The €500 banknote will retain its value and could be further exchanged at currency exchange facilities in Moldova, the National Bank of Moldova has said. The clarifications comes in connection with local press reports about the decision of the European Central Bank (ECB) to discontinue production and issuance of the €500 banknote by the end of this year.

The €500 banknote will remain legal tender and will retain its value after 2018. Therefore, it will continue to be used as a means of payment and can be freely exchanged at the currency exchange facilities in Moldova, including of commercial banks, for an unlimited period of time.

The ECB’s decision was taken two years ago amid concerns that this banknote could facilitate illicit activities. At the same time, the ECB plans to introduce €100 and €200 banknotes of the Europa series around the end of 2018. Banknotes of other denominations – from €5 to €200 – will remain in place.

The Europa series is the second series of euro banknotes, which has been introduced gradually, starting with €5 in 2013 and followed by €10, €20 and €50 in 2014, 2015 and 2017, respectively.