From January 2025, instead of the dollar, Moldova will use the euro as the base currency to set the official exchange rate of the Moldovan lei, the head of the National Bank of the Republic of Moldova, Anka Dragu, announced on the public TV channel Moldova-1.
"From January 2, we are switching to the euro as the base currency for the official exchange rate of the Moldovan lei and the determination of the reserves of the National Bank of Moldova. It will bring significant economic benefits to the country. The expected savings of stock exchange transactions can exceed 10 million euros. This is due to the increase in the liquidity of the euro in the domestic market and the reduction of the difference between the buying and selling rates by approximately 7-10 baht (one lei is 100 baht). This will make foreign currency transactions more profitable for the population and businesses," said Dragu.
The head of the National Bank explained that the decision to switch to the euro as the main reserve currency is related to the country's trade and foreign exchange flows. According to him, about 60-70% of Moldova's exchanges and trade transactions take place with the European Union, so the National Bank of Moldova should adjust reserves and currency interventions to these realities.
