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Moldovan leu

Currency of Moldova

Summary

Currency of Moldova

Field	Value
local_name1	leu moldovenesc
local_name_lang1	ro
image_1	MD_100_lei_av.jpg
image_title_1	100 lei note obverse
image_2	MD_1_leu_av.jpg
image_title_2	1 leu note obverse
iso_code	MDL
date_of_introduction	29 November 1993
replaced_currency	Russian Ruble
using_countries	Moldova (except Transnistria)
inflation_rate	4%
inflation_source_date	National Bank of Moldova, April 2024
subunit_ratio_1
subunit_name_1	ban
plural	lei
plural_subunit_1	bani
symbol	L
frequently_used_coins	1 leu, 2, 5, 10 lei
rarely_used_coins	1, 5, 10, 25, 50 bani
frequently_used_banknotes	20, 50, 100, 200, 500, 1000 lei
rarely_used_banknotes	1, 5, 10 lei
issuing_authority	National Bank of Moldova
issuing_authority_website

The Moldovan leu (, plural lei ; sign: L; ISO 4217 code: MDL) is the currency of Moldova. Like the Romanian leu, the Moldovan leu is subdivided into 100 bani (sg. ban). The name of the currency originates from a Romanian word which means "lion".

Etymology

Dutch Thaler, depicting a lion, the origin of the Moldovan "Leu"

The name of the currency means "lion", and is derived from the Dutch thaler (leeuwendaalder "lion thaler/dollar"). The Dutch leeuwendaalder was imitated in several German and Italian cities. These coins circulated in Moldova, Romania and Bulgaria and gave their name to their respective currencies: the Moldovan leu, the Romanian leu and the Bulgarian lev.

History

From 1918 to 1940 and again from 1941 to 1944, Moldova was part of Romania and the Romanian leu was used in what was then the eastern part of the broader Romanian region of Moldavia (Moldova in Romanian). The Moldovan leu was established on 29 November 1993, following the collapse of the Soviet ruble and the creation of the independent Republic of Moldova. It replaced the temporary cupon and Russian ruble at a rate 1000 = 1 MDL.

In Transnistria, an unrecognized breakaway state which is internationally recognized as part of Moldova, the Transnistrian ruble is used instead. The currency is not honoured in Moldova or any other state. In May 2019, Octavian Armașu, governor of the National Bank of Moldova from 2018 to 2023, described the acceptance of the Moldovan leu in Transnistria as a prerequisite for the region's integration into the Moldovan banking system.

Coins

A first series of mostly small aluminum coins entered circulation in November 1993. A second series consisting of larger denomination coins was issued in 2018. Most Moldovan coins are minted at the Monetăria Statului in Romania.

First series (1993–present)

In November 1993, the National Bank of Moldova (NBM) issued its first coins of 1, 5, 25 and 50 bani and 1 and 5 lei.

The 1 and 5 lei coins were withdrawn from circulation in 1994. Due to their low quality and relatively high nominal value, many forgeries appeared.

In April 1996, a 10 bani coin was introduced.

In 1997, the NBM announced that it would replace the existing aluminum 50 bani coin with a new one made from brass-plated steel with a new and improved design featuring anti-counterfeit elements such as reeding, a first for modern Moldovan coins.

The new 50 bani coins were put into circulation on 2 February 1998. At the same time the NBM began withdrawing old aluminum 50 bani coins. They were demonetized on 1 January 1999.

1 ban coins remain legal tender but are rarely used or seen in circulation, effectively leading to "Swedish rounding".

Coins of the first series (1993–present)	Image	Value	Technical parameters	Description	Date of	Diameter	Mass	Composition	Edge	Obverse	Reverse
[[File:1ban-md.png	145px]]	1 ban	14.5 mm	0.67 g	Aluminum	Plain	Denomination, year of minting	Coat of arms, country name	1993~2017	29 November 1993	Current, but not issued for general circulation
[[File:5bani-md.png	145px]]	5 bani	16 mm	0.75 g	1993~2018	Current
[[File:10bani-md.png	145px]]	10 bani	16.6 mm	0.85 g	1995~2018
[[File:25bani-md.png	145px]]	25 bani	17.5 mm	0.95g	1993~2020
[[File:50bani-md-1993.png	145px]]	50 bani	19 mm	1.07 g	1993	1 January 1999
[[File:50bani-md.png	145px]]	50 bani	19 mm	3.1 g	Brass-plated steel	Reeded	Grapevine with grapes and leaves, denomination, year of minting	1997~2018	2 February 1998	Current
[[File:1leu-md.png	145px]]	1 leu	20,1 mm	3,3 g	Nickel clad steel	Plain	Denomination, year of minting	1992	29 November 1993	1994
[[File:MDA-5l.jpg	145px]]	5 lei	22,0 mm	3,6 g	1993

Second series (2018–present)

In 2017, the NBM announced plans to reintroduce 1 and 5 lei coins alongside new 2 and 10 lei coins citing "superior durability and cheaper manufacturing and maintenance cost over time compared to banknotes" as the main reason and asking people to submit their designs for the new coins. The design of the new coins was unveiled on February 28, 2018, featuring elements of both the coat of arms of the Principality of Moldavia on the obverse and the coat of arms of the Republic of Moldova on the reverse, with 1 and 2 lei coins being made from nickel-plated steel and 5 and 10 lei coins featuring a bi-metallic design with elements made from nickel-plated steel and brass-plated steel. The new coins were put into circulation starting 28 February 2018. All of the new lei coins are currently intended to be used alongside banknotes of equal value.

Coins of the second series (2018–present)	Image	Value	Technical parameters	Description	Date of	Diameter	Thickness	Mass	Composition	Edge	Obverse
[[File:1_LEU_COIN_NEW.png	145px]]	1 leu	21.5 mm	1.8 mm	4.45 g	Nickel-plated steel	Segmented (Plain and reeded sections (3 groups))	Female-faced crescent, part of an aurochs' head, coat of arms, state title	Denomination, year of minting, the letters "R" and "M" in latent image, and part of the coat of arms on the background	2018	April 2018
[[File:2_LEI_COIN_2018.png	145px]]	2 lei	23.7 mm	2.2 mm	6.7 g	Reeded	Male-faced Sun, part of an aurochs' head, coat of arms, state title
[[File:5_LEI_COIN_2018.png	145px]]	5 lei	24.4 mm	2.25 mm	7.1 g	Center plug: Nickel-plated steel
Outer ring: Brass-plated steel	Segmented (Plain and reeded sections (5 groups))	The horns of an aurochs' (part of its head), surmounted by an open crown, an eight pointed star between the horns, a heraldic rose, coat of arms, state title	early 2019
[[File:10_LEI_COIN_2018.png	145px]]	10 lei	25.3 mm	2.3 mm	7.65 g	Center plug: Brass-plated steel
Outer ring: Nickel-plated steel	Reeded with inscription: Reeded, "MOLDOVAMOLDOVA"	Personal coat of arms of Stephen the Great, part of an aurochs' head, coat of arms, state title

Commemorative coins

NBM]] governor [[Octavian Armașu]] speeking during the 2021 annual celebration of the Moldovan leu held on 29 November

Since 1996, several commemorative coins for collectors have been issued.

Banknotes

There have been two series of Moldovan leu banknotes. The first series was short-lived and only included 1, 5, and 10 lei. The front of all of these notes—and all subsequent notes—feature a portrait of Ștefan cel Mare (Stephen the Great, also known as Stephen III of Moldavia), the prince of Moldavia from 1457 to 1504.

The first two lines of the Miorița (The Little Ewe) ballad appear on the back, printed vertically between the denomination numeral and the vignette of the fortress. These lines, “Pe-un picior de plai, pe-o gură de rai”, translate as “near a low foothill at Heaven’s threshold”.

Second Series	Image	Value	Dimensions	Main Colour	Description	Date of	Obverse	Reverse	Obverse	Reverse	Watermark
[[Image:MD 1 leu av.jpg	100px]]	[[Image:MD 1 leu rev.jpg	100px]]	1 leu	114 × 58 mm	Yellow	Stephen III	Căpriana monastery	As portrait	1994	May 1994
[[Image:MD 5 lei av.jpg	100px]]	[[Image:MD 5 lei rev.jpg	100px]]	5 lei	Cyan	St. Dumitru Church, Orhei	April 1994
[[Image:MD 10 lei av.jpg	100px]]	[[Image:MD 10 lei rev.jpg	100px]]	10 lei	121 × 61 mm	Red	Hîrjauca monastery	May 1994
[[Image:MD 20 lei av.jpg	100px]]	[[Image:MD 20 lei rev.jpg	100px]]	20 lei	Green	Soroca Fort	1992	November 1993
[[Image:MD 50 lei av.jpg	100px]]	[[Image:MD 50 lei rev.jpg	100px]]	50 lei	Pink	Hîrbovăț monastery	May 1994
[[Image:MD 100 lei av.jpg	100px]]	[[Image:MD 100 lei rev.jpg	100px]]	100 lei	Orange	Tighina Fortress	September 1995
[[Image:MD 200 lei av.jpg	100px]]	[[Image:MD 200 lei rev.jpg	100px]]	200 lei	133 × 66 mm	Purple	Chișinău City Hall
[[Image:MD 500 lei av.jpg	100px]]	[[Image:MD 500 lei rev.jpg	100px]]	500 lei	Orange and green	Chișinău Cathedral	December 1999
[[Image:MD 1000 lei av.jpg	100px]]	[[Image:MD 1000 lei rev.jpg	100px]]	1000 lei	Blue	Presidential Palace	October 2003

On the front side of each banknote only one man is represented - the best-known ruler of Moldavia - Ștefan cel Mare (Stephen the Great).
The first two lines of the Miorița ballad are written in the white circle on the front side of each banknote.
On the back side of all the banknotes there are depicted Trajan's Column and The Endless Column.

Moldovan leu banknotes were notable for not using intaglio printing until 2015: the main security features on all denominations were limited, initially consisting mainly of a watermark of Ștefan, a solid security thread, and a see-through registration device. In 2015, the National Bank of Moldova finally rolled out intaglio printing and embossing for denominations between 10 and 500 lei, and also introduced revised security features on all denominations except for 1,000 lei. The banknote for 1,000 lei continues to use the original design.

Exchange rates

References

"ISO4217 AMENDMENT NUMBER 69 - 1993-12-03".
[http://bnr.ro/Euro-Exhibition---Opening-Speech-by-Mugur-Isarescu,-NBR-Governor--6613.aspx Euro Exhibition - Opening Speech by Mugur Isărescu, NBR Governor]{{Dead link. (February 2024)
link. (2021-11-29 , BNR.ro)
[http://www.oanda.com/currency/iso-currency-codes/RON Romanian New Leu], oanda.com
"Online Etymology Dictionary".
(16 May 2019). "Guvernatorul BNM, Octavian Armașu: Băncile transnistrene mai întâi să accepte leul ca mijloc de plată". Radio Europa Liberă Moldova.
"cu privire la introducerea monedei naţionale în Republica Moldova". PREŞEDINTELE REPUBLICII MOLDOVA.
"O pătrime de veac a leului moldovenesc". joblist.md.
"Moneda cu valoarea nominală de 10 bani". National Bank of Moldova.
"cu privire la punerea în circulaţie a monedei metalice cu valoarea nominală de 50 bani modelul anului 1997". National Bank of Moldova.
"Moneda metalică cu valoarea nominală de 1 ban este mijloc legal de plată?". National Bank of Moldova.
National Bank of Moldova. Coins. Available at: http://www.bnm.md/ro/content/monede
"cu privire la punerea în circulaţie a monedei metalice cu valoarea nominală de 50 bani modelul anului 1997". National Bank of Moldova.
"BNM invită cetățenii să prezinte concepte pentru designul monedelor de 1 leu și 2 lei.". National Bank of Moldova.
"Eveniment de lansare a unei serii noi de monede metalice.". National Bank of Moldova.
"Din 28 februarie 2018, BNM pune în circulație noi monede metalice: de 1, 2, 5 și 10 lei.". National Bank of Moldova.
"Monede în circulație". National Bank of Moldova.
http://www.bnm.md/ro/content/lista-monedelor-comemorative-si-jubiliare-grupate-ordine-cronologica here
(18 October 2003). "1000 lei face value banknote".
"Security features of upgraded banknotes".

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

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