View source for Moldovan leu

{{Short description|Currency of Moldova}}
{{Infobox currency
| 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<ref name="ISO69">{{cite web |title=ISO4217 AMENDMENT NUMBER 69 - 1993-12-03 |url=https://www.six-group.com/dam/download/financial-information/data-center/iso-currrency/amendments/dl_currency_iso_amendment_69.pdf}}</ref>
| replaced_currency = [[Russian Ruble]]<ref name="ISO69"/>
| using_countries = {{flag|Moldova}} (except {{flag|Transnistria}})
| inflation_rate = 4%
| inflation_source_date = ''[https://www.bnm.md/en/search National Bank of Moldova]'', April 2024
| subunit_ratio_1 = {{frac|1|100}}
| 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 = {{URL|www.bnm.md}}
}}
The '''Moldovan leu''' ({{IPA|ro|lew}}, plural '''lei''' {{IPA|ro|lej|}}; [[Currency symbol|sign]]: '''L'''; [[ISO 4217]] code: '''MDL''') is the [[currency]] of [[Moldova]]. Like the [[Romanian leu]], the Moldovan leu is subdivided into 100 bani ({{small|sg.}} ban). The name of the currency originates from a Romanian word which means "lion".

==Etymology==
[[File:Loewentaler.jpg|thumb|200px|left|Dutch Thaler, depicting a lion, the origin of the Moldovan "Leu"]]

The name of the currency means "lion", and is derived from the [[Thaler#Dutch Republic|Dutch thaler]] ({{lang|nl|leeuwendaalder}} "lion thaler/dollar").<ref>[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|date=February 2024 |bot=InternetArchiveBot |fix-attempted=yes }}, BNR.ro</ref><ref>[http://bnr.ro/page.aspx?prid=7877 Numismatic issue - a set of three collector coins dedicated to 140 years since the establishment of military communications] {{Webarchive|url=https://web.archive.org/web/20211129154513/https://bnr.ro/page.aspx?prid=7877 |date=2021-11-29 }}, BNR.ro</ref><ref>[http://www.oanda.com/currency/iso-currency-codes/RON Romanian New Leu], oanda.com</ref> 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]]''.<ref>{{cite web |url=http://www.etymonline.com/index.php?term=leu&allowed_in_frame=0 |title=Online Etymology Dictionary |website=www.etymonline.com}}</ref>

==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 language|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 [[Moldovan cupon|temporary cupon]] and [[Russian ruble]]<ref name="ISO69"/> at a rate 1000 = 1 MDL.

In [[Transnistria]], an [[list of states with limited recognition|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.<ref>{{Cite news |date=16 May 2019 |title=Guvernatorul BNM, Octavian Armașu: Băncile transnistrene mai întâi să accepte leul ca mijloc de plată |url=https://moldova.europalibera.org/a/29944425.html |url-status=live |archive-url=https://web.archive.org/web/20250701174931/https://moldova.europalibera.org/a/29944425.html |archive-date=1 July 2025 |access-date=6 May 2020 |work=Radio Europa Liberă Moldova}}</ref>

==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.<ref>{{cite web|url=http://lex.justice.md/viewdoc.php?action=view&view=doc&id=289584&lang=1 |title=cu privire la introducerea monedei naţionale în Republica Moldova|publisher=PREŞEDINTELE REPUBLICII MOLDOVA |access-date=22 March 2020|language=ro}}</ref>

The 1 and 5 lei coins were withdrawn from circulation in 1994.<ref>{{cite web|url=https://joblist.md/ro/news/cariera/o-patrime-de-veac-a-leului-moldovenesc |title=O pătrime de veac a leului moldovenesc|publisher=joblist.md |access-date=22 March 2020|language=ro}}</ref> Due to their low quality and relatively high nominal value, many forgeries appeared.

In April 1996, a 10 bani coin was introduced.<ref>{{cite web|url=https://www.bnm.md/ro/content/moneda-cu-valoarea-nominala-de-10-bani |title=Moneda cu valoarea nominală de 10 bani|publisher= National Bank of Moldova |access-date=22 March 2020|language=ro}}</ref>

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.<ref>{{cite web|url=https://www.legis.md/cautare/getResults?doc_id=49683&lang=ro|title=cu privire la punerea în circulaţie a monedei metalice cu valoarea nominală de 50 bani modelul anului 1997|publisher=National Bank of Moldova |access-date=15 March 2020|language=ro}}</ref> 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]]".<ref>{{cite web|url=http://www.bnm.md/ro/content/intrebari-si-raspunsuri-despre-moneda-natioanla|title=Moneda metalică cu valoarea nominală de 1 ban este mijloc legal de plată?|publisher=National Bank of Moldova|access-date=28 March 2018|language=ro|archive-date=28 March 2018|archive-url=https://web.archive.org/web/20180328231128/http://www.bnm.md/ro/content/intrebari-si-raspunsuri-despre-moneda-natioanla|url-status=dead}}</ref>

{|class="wikitable" style="font-size: 90%"
!colspan="13"|Coins of the first series (1993–present)<ref name="bcnb">National Bank of Moldova. Coins. Available at: http://www.bnm.md/ro/content/monede</ref>
|- 
! rowspan="2"| Image !!rowspan="2"| Value !!colspan="3"| Technical parameters !!colspan="3"| Description !!colspan="4"| Date of 
|- 
! Diameter !! Mass !! Composition !! Edge !! Obverse !! Reverse !! minting !! issue !! withdrawal !! lapse
|-{{Coin-silver-color}}
| align="center" bgcolor="#000000" width="100px"| [[File:1ban-md.png|145px]]
| 1 ban
| 14.5&nbsp;mm
| 0.67 g
| rowspan="5" | [[Aluminum]]
| rowspan="5" | Plain
| rowspan="5" | Denomination, year of minting
| rowspan="8" | [[Coat of arms of Moldova|Coat of arms]], country name
| 1993~2017
| rowspan="5"| 29 November 1993
| colspan="2"| Current, but not issued for general circulation
|-{{Coin-silver-color}}
| align="center" bgcolor="#000000"| [[File:5bani-md.png|145px]]
| 5 bani
| 16&nbsp;mm
| 0.75 g
| 1993~2018
|rowspan="3" colspan="2"| Current
|-{{Coin-silver-color}}
| align="center" bgcolor="#000000"| [[File:10bani-md.png|145px]]
| 10 bani
| 16.6&nbsp;mm
| 0.85 g
| 1995~2018
|-{{Coin-silver-color}}
| align="center" bgcolor="#000000"| [[File:25bani-md.png|145px]]
| 25 bani
| 17.5&nbsp;mm
| 0.95g
| 1993~2020
|-{{Coin-silver-color}}
| align="center" bgcolor="#000000"| [[File:50bani-md-1993.png|145px]]
| 50 bani
| 19&nbsp;mm
| 1.07 g
| 1993
| colspan="2"| 1 January 1999
|-{{Coin-yellow-color}}
| align="center" bgcolor="#000000"| [[File:50bani-md.png|145px]]
| 50 bani
| 19&nbsp;mm
| 3.1 g
| Brass-plated steel
| Reeded
| Grapevine with grapes and leaves, denomination, year of minting
| 1997~2018
| 2 February 1998<ref>{{cite web|url=https://www.legis.md/cautare/getResults?doc_id=49683&lang=ro|title=cu privire la punerea în circulaţie a monedei metalice cu valoarea nominală de 50 bani modelul anului 1997 |publisher=National Bank of Moldova |access-date=22 March 2020|language=ro}}</ref>
| colspan="2"| Current
|-{{Coin-silver-color}}
| align="center" bgcolor="#000000"| [[File:1leu-md.png|145px]]
| 1 leu
| 20,1&nbsp;mm
| 3,3 g
| rowspan="2"| Nickel clad steel
| rowspan="2" | Plain
| rowspan="2" | Denomination, year of minting
| 1992
|rowspan="2"| 29 November 1993
|rowspan="2" colspan="2"| 1994
|-{{Coin-silver-color}}
| align="center" bgcolor="#000000"| [[File:MDA-5l.jpg|145px]]
| 5 lei
| 22,0&nbsp;mm
| 3,6 g
| 1993
|-
|colspan="16"|{{Standard coin table notice|standard_scale=Y|BrE=Y}}
|}

===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.<ref>{{cite web|url=http://www.bnm.md/ro/content/bnm-invita-cetatenii-sa-prezinte-concepte-pentru-designul-monedelor-de-1-leu-si-2-leu|title=BNM invită cetățenii să prezinte concepte pentru designul monedelor de 1 leu și 2 lei. |publisher=National Bank of Moldova |access-date=28 March 2018|language=ro}}</ref> The design of the new coins was unveiled on February 28, 2018, featuring elements of both the [[Flag and coat of arms of Moldavia|coat of arms of the Principality of Moldavia]] on the obverse and the [[Coat of arms of Moldova|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 coin|bi-metallic design]] with elements made from nickel-plated steel and brass-plated steel.<ref>{{cite web|url=http://www.bnm.md/ro/content/video-eveniment-de-lansare-unei-serii-noi-de-monede-metalice-0|title=Eveniment de lansare a unei serii noi de monede metalice. |publisher=National Bank of Moldova |access-date=28 March 2018|language=ro}}</ref> The new coins were put into circulation starting 28 February 2018.<ref>{{cite web|url=http://www.bnm.md/ro/content/din-28-februarie-2018-bnm-pune-circulatie-noi-monede-metalice-de-1-2-5-si-10-lei-0|title=Din 28 februarie 2018, BNM pune în circulație noi monede metalice: de 1, 2, 5 și 10 lei. |publisher=National Bank of Moldova |access-date=28 March 2018|language=ro}}</ref> All of the new lei coins are currently intended to be used alongside banknotes of equal value.

{|class="wikitable" style="font-size: 90%"
!colspan="11"|Coins of the second series (2018–present)<ref>{{cite web|url=http://www.bnm.md/ro/content/monede|title=Monede în circulație |publisher=National Bank of Moldova |access-date=28 March 2018|language=ro}}</ref>
|- 
! rowspan="2"| Image !!rowspan="2"| Value !!colspan="4"| Technical parameters !!colspan="3"| Description !!colspan="2"| Date of 
|- 
! Diameter !! Thickness !! Mass !! Composition !! Edge !! Obverse !! Reverse !! First minting !! First issue
|-{{Coin-silver-color}}
| style="text-align:center; background:" bgcolor="#000000"| [[File:1_LEU_COIN_NEW.png|145px]]
| {{nowrap|1 leu}}
| {{nowrap|21.5 mm}}
| {{nowrap|1.8 mm}}
| {{nowrap|4.45 g}}
| rowspan=2 | Nickel-plated steel
| Segmented (Plain and reeded sections (3 groups))
| Female-faced crescent, part of an aurochs' head, [[Coat of arms of Moldova|coat of arms]], state title
| rowspan=4 | Denomination, year of minting, the letters "R" and "M" in latent image, and part of the [[Coat of arms of Moldova|coat of arms]] on the background
| rowspan=4 | 2018
| rowspan=2 | April 2018
|-{{Coin-silver-color}}
| style="text-align:center; background:" bgcolor="#000000"| [[File:2_LEI_COIN_2018.png|145px]]
| {{nowrap|2 lei}}
| {{nowrap|23.7 mm}}
| {{nowrap|2.2 mm}}
| {{nowrap|6.7 g}}
| Reeded
| Male-faced Sun, part of an aurochs' head, [[Coat of arms of Moldova|coat of arms]], state title
|-{{Coin-yellow-color}}
| style="text-align:center; background:" bgcolor="#000000"| [[File:5_LEI_COIN_2018.png|145px]]
| {{nowrap|5 lei}}
| {{nowrap|24.4 mm}}
| {{nowrap|2.25 mm}}
| {{nowrap|7.1 g}}
| Center plug: [[Nickel]]-plated [[steel]]<br>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 (heraldry)|rose]], [[Coat of arms of Moldova|coat of arms]], state title
| rowspan=2 | early 2019
|-{{Coin-silver-color}}
| style="text-align:center; background:" bgcolor="#000000"| [[File:10_LEI_COIN_2018.png|145px]]
| {{nowrap|10 lei}}
| {{nowrap|25.3 mm}}
| {{nowrap|2.3 mm}}
| {{nowrap|7.65 g}}
| Center plug: [[Brass]]-plated [[steel]]<br>Outer ring: [[Nickel]]-plated [[steel]]
| Reeded with inscription: Reeded, "MOLDOVA*MOLDOVA*"
| Personal coat of arms of [[Stephen the Great]], part of an aurochs' head, [[Coat of arms of Moldova|coat of arms]], state title
|}

===Commemorative coins===
[[File:Ziua Leului 2021.jpg|thumb|[[National Bank of Moldova|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.<ref>http://www.bnm.md/ro/content/lista-monedelor-comemorative-si-jubiliare-grupate-ordine-cronologica here</ref>

==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”.

{|class="wikitable" style="font-size: 90%"
|-
!colspan="10"|Second Series
|-
!colspan="2"| Image !!rowspan="2"| Value !!rowspan="2"| Dimensions !!rowspan="2"| Main Colour !!colspan="3"| Description !!colspan="2"| Date of
|-
! Obverse !! Reverse !! Obverse !! Reverse !! Watermark !! first printing !! issue
|-
| [[Image:MD 1 leu av.jpg|100px]]
| [[Image:MD 1 leu rev.jpg|100px]]
| 1 leu
|rowspan="2"| 114 × 58&nbsp;mm
| Yellow
|rowspan="9"| [[Stephen III of Moldavia|Stephen III]]
| [[Căpriana monastery]]
|rowspan="9"| As portrait
|rowspan="3"| 1994
| May 1994
|-
| [[Image:MD 5 lei av.jpg|100px]]
| [[Image:MD 5 lei rev.jpg|100px]]
| 5 lei
| Cyan
| [[St. Dumitru Church (Orhei)|St. Dumitru Church, Orhei]]
| April 1994
|-
| [[Image:MD 10 lei av.jpg|100px]]
| [[Image:MD 10 lei rev.jpg|100px]]
| 10 lei
| rowspan="4"| 121 × 61&nbsp;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]]
|rowspan="6"| 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]]
|rowspan="2"| September 1995
|-
| [[Image:MD 200 lei av.jpg|100px]]
| [[Image:MD 200 lei rev.jpg|100px]]
| 200 lei
| rowspan="3"| 133 × 66&nbsp;mm
| Purple
| [[Chișinău City Hall]]
|-
| [[Image:MD 500 lei av.jpg|100px]]
| [[Image:MD 500 lei rev.jpg|100px]]
| 500 lei
| Orange and green
| [[Nativity Cathedral, Chișinău|Chișinău Cathedral]]
| December 1999
|-
| [[Image:MD 1000 lei av.jpg|100px]]
| [[Image:MD 1000 lei rev.jpg|100px]]
| 1000 lei
| Blue
| [[Presidential Palace, Chișinău|Presidential Palace]]
| October 2003
|-
|colspan="10"|{{Standard banknote table notice|BrE=Y}}
|}

* On the front side of each banknote only one man is represented - the best-known ruler of Moldavia - [[Stephen III of Moldavia|Ștefan cel Mare (Stephen the Great)]].
* The first two lines of the [[Mioriţa|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 (printmaking)|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.<ref name="MDL-1000-2003">{{cite web|title=1000 lei face value banknote|url=http://bnm.md/en/content/1000-lei-face-value-banknote|website=National Bank of Moldova|access-date=5 January 2020|archive-url=https://web.archive.org/web/20200105174009/http://bnm.md/en/content/1000-lei-face-value-banknote|archive-date=5 January 2020|location=Chisinau|date=18 October 2003}}</ref> In 2015, the National Bank of Moldova finally rolled out intaglio printing and [[Paper embossing|embossing]] for denominations between 10 and 500 lei, and also introduced revised security features on all denominations except for 1,000 lei.<ref name="MDL-Security">{{cite web|title=Security features of upgraded banknotes|url=http://bnm.md/en/content/security-elements-moldovan-leu|website=National Bank of Moldova|access-date=5 January 2020|archive-url=https://web.archive.org/web/20200105175246/http://bnm.md/en/content/security-elements-moldovan-leu|archive-date=5 January 2020|location=Chisinau}}</ref> The banknote for 1,000 lei continues to use the original design.

==Exchange rates==
{{Exchange rate|MDL|RON|RUB|UAH}}

==See also==
* [[Economy of Moldova]]
* [[Romanian leu]]
* [[Bulgarian lev]]

==References==
{{reflist}}

==External links==
* {{CISCoins|Moldova}}
* [http://banknoter.com/s/moldova Catalog of Banknotes of Moldova]
* [http://www.bis-ans-ende-der-welt.net/Moldawien-B-En.htm The banknotes of Moldova] {{in lang|en|de}}

{{Moldova topics}}
{{Currencies of post-Soviet states}}
{{Currencies of Europe}}
{{Portal bar|Europe|Moldova|Money|Numismatics}}

[[Category:Currencies of Moldova|Leu, Moldovan]]
[[Category:Currencies introduced in 1993]]
[[Category:Circulating currencies]]
[[Category:Currencies of Europe]]