President Maia Sandu welcomed the National Bank of Moldova’s (BNM) decision to adopt the euro as the reference currency for determining the official exchange rate of the Moldovan leu, effective January 2, 2025. The euro will replace the U.S. dollar in this role, reflecting Moldova’s economic alignment with the European Union.
This move will benefit foreign trade by simplifying financial planning for exporters and investors and providing greater predictability in international transactions. “This decision will bring more clarity for Moldovan companies exporting to the European market. Currency exchange costs will decrease, enabling businesses to plan investments and commercial transactions with greater confidence,” President Sandu stated.
Over 60% of Moldova’s foreign trade is in euros. Adopting the euro as the reference currency further strengthens economic ties with the European Union. Additionally, 70% of remittances sent to Moldova’s citizens are in euros, making this change both timely and essential.
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Moldova will join the Single Euro Payments Area (SEPA) in 2025. It will enable faster and cheaper transfers between Moldova and European countries. “Adopting the euro as the reference currency is not just a technical adjustment but a symbol of our economic integration with the European Union. It is a decisive step toward a more stable, predictable, and attractive economy for foreign trade and investment,” President Sandu emphasized.