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    Home > Finance > Moldova switches reference currency to euro
    Finance

    Moldova switches reference currency to euro

    Published by Global Banking & Finance Review®

    Posted on January 2, 2025

    1 min read

    Last updated: January 27, 2026

    This image represents Moldova's transition to using the euro as its reference currency, enhancing economic stability and ties with the EU, as discussed in the article.
    Illustration of Moldova's currency switch to euro for exchange rate - Global Banking & Finance Review
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    Quick Summary

    Moldova has switched its reference currency from the dollar to the euro to strengthen economic ties with the EU, enhancing stability and predictability.

    Moldova Adopts Euro as New Reference Currency

    KYIV (Reuters) - Moldova switched to using the euro from the dollar as the reference currency for the official exchange rate of the Moldovan lei, president Maia Sandu said on Thursday.

    "With over 60% of our trade and 70% of remittances in euro, the move strengthens our economic ties with the EU, bringing more stability and predictability for all Moldovans," Sandu said on X.

    The country's National Bank, in a statement published on Nov. 15, said that the switch from using the U.S. dollar reflected Moldova's economic shift towards the European Union market and would reduce fluctuations in the exchange rate.

    (Reporting by Anastasiia Malenko; Editing by Toby Chopra)

    Key Takeaways

    • •Moldova switches reference currency from dollar to euro.
    • •Over 60% of Moldova's trade is in euros.
    • •70% of remittances to Moldova are in euros.
    • •The change aims to stabilize Moldova's economy.
    • •Reflects Moldova's shift towards the EU market.

    Frequently Asked Questions about Moldova switches reference currency to euro

    1What is the main topic?

    The article discusses Moldova's switch from the dollar to the euro as its reference currency to enhance economic stability and EU ties.

    2Why did Moldova switch to the euro?

    Moldova switched to the euro to reflect its economic shift towards the EU and to stabilize its currency fluctuations.

    3What impact does this have on Moldova's economy?

    The switch is expected to bring more stability and predictability to Moldova's economy, aligning it closer with the EU market.

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