The Moldovan leu is a solid currency and one of the strongest currencies in the region. The introduction of the national currency in the Republic of Moldova stimulated reforms in all the branches of the national economy. On the 25th anniversary of is putting into circulation, the Moldovan leu is a trusted currently. The opinions were stated in a news conference held to celebrate the anniversary, IPN reports.
National Bank governor Sergiu Cioclea spoke about his term in office that lasted for almost three years. He said that measures to strengthen confidence in the Moldovan leu were taken after the financial and banking crisis. Owing to the steps taken in the period, the exchange rate of the Moldovan lei remained firm and the leu is a solid currency and is among the most solid ones in the region. The population’s trust in the baking system increased as did the deposits.
According to Sergiu Cioclea, currently the cards in circulation number almost 2 million and this is almost twice more than four years ago. In the period, the value and number of cashless operations trebled, rising to 3 billion lei in value and to over 8 million transactions in number. The value of transactions performed from a distance rose to almost 4 billion lei. “The continuing of digitization of the lei for the benefit of our economy and the use of the leu over the borders of the Republic of Moldova will be challenges for the new governor,” he stated.
Moldova’s first President Mircea Snegur said a decree on the monetary reform was signed on December 9, 1992, but the situation related to the war on the Nistru and the then economic crisis led to the postponement of the putting of the Moldovan leu into circulation. An opportune moment for introducing the national currency appeared at the end of 1993. On November 24, 1993, there was issued a decree to introduce the Moldovan lei equal to 100 bani on November 29, 1993.
Mircea Snegur noted the Moldovan lei turned out to be a stable currency that is credible on the world arena. This stimulated the export and foreign investment into Moldova. At internal level, the population had more confidence in the leu than in other currencies. The introduction of the national currency in Moldova 25 years ago was a crucial moment that stimulated reforms in all the sectors of the national economy.
The first governor of the National Bank of Moldova Leonid Talmaci said that 25 years ago, on November 29, the Soviet ruble was withdrawn from circulation and the Moldovan lei was introduced instead of this and the coupon of the central bank. All the banknotes had the image of Stephan the Great only on them as the possibilities of having freely convertible currency were limited then. The central bank had neither capital nor foreign exchange reserves then.
