Moldovan leu

Moldovan leu
leu moldovenesc (Romanian)
100 Leu note obverse 1 Leu note obverse
ISO 4217
Code	MDL
Number	498
Exponent	2
Denominations
Subunit
1/100	ban
Plural	lei
ban	bani
Banknotes	1, 5, 10, 20, 50, 100, 200, 500, 1000 lei
Coins	1(not in use), 5, 10, 25, 50 bani, 1 leu, 2 lei, 5 lei, 10 lei
Demographics
User(s)	Moldova (except  Transnistria)
Issuance
Central bank	National Bank of Moldova
Website	www.bnm.md
Valuation
Inflation	4.7%
Source	Statista.com, 2018 est.

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

History

Between 1918 and 1940 and again between 1941 and 1944, when Moldova was part of Romania, 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 Union and the creation of the independent republic of Moldova. It replaced the temporary cupon currency at a rate of 1 leu = 1000 cupon.

In Transnistria, an unrecognized state claimed in whole by Moldova, the Transnistrian ruble is used instead. The currency is not honoured by Moldova or any other state.

Coins

In November 1993 the National Bank of Moldova (NBM) issued and put into circulation its first coins of 1, 5, 10, 25 and 50 bani made in aluminum and 1 and 5 lei coins made from nickel-plated steel. The 1 and 5 lei coins were later withdrawn from circulation in 1995. 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 starting January 1998, at the same time the NBM began withdrawing old aluminum 50 bani coins. The 1 ban coins were last minted in 2006 and even though they remain legal tender they are rarely used or seen in circulation, effectively leading to "Swedish rounding".^[1]

In 2017 the NBM announced plans to reintroduce 1 and 5 lei coins alongside with 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.^[2] The design of the new coins was unveiled on February 28th, 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.^[3] The 1 and 2 Lei coins were put into circulation starting February 28th, 2018 while 5 and 10 Lei coins are intended to be introduced starting around late 2018 or early 2019.^[4] All of the new Lei coins are currently intended to be used alongside banknotes of equal value.

Since 1996 several commemorative coins for collectors have been issued. A complete listing can be found here.

Currently circulating coins[5]
Image	Value	Technical parameters				Description				Date of
		Diameter	Thickness	Mass	Composition	Edge	Obverse	Reverse	First minting	First issue
	1 ban	14.5 mm	1.7 mm	0.67 g	Aluminum	Plain	Coat of arms, country name	Denomination, year of minting	1993	November 1993
	5 bani	16 mm	1.6 mm	0.75 g
	10 bani	16.6 mm	1.65 mm	0.85 g
	25 bani	17.5 mm	1.7 mm	0.95 g
	50 bani	19 mm	1.8 mm	3.1 g	Brass-plated steel	Reeded	Coat of arms, country name	Grapevine with grapes and leaves, denomination, year of minting	1997	January 1998
	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
	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
	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
	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, "MOLDOVA*MOLDOVA*"	Personal coat of arms of Stephen the Great, part of an aurochs' head, coat of arms, state title

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. The Miorița is an old Romanian pastoral ballad considered one of the most important pieces of Romanian folklore. The lines “Pe-un picior de plai, Pe-o gură de rai” translate as “Near a low foothill, at Heaven’s doorsill.”

Second Series
Image		Value	Dimensions	Main Colour	Description			Date of
Obverse	Reverse				Obverse	Reverse	Watermark	first printing	issue
		1 leu	114 × 58 mm	Yellow	Stephen III	Căpriana monastery	As portrait	1994	May 1994
		5 lei		Cyan		St. Dumitru Church, Orhei			April 1994
		10 lei	121 × 61 mm	Red		Hârjauca monastery			May 1994
		20 lei		Green		Soroca Fort		1992	November 1993
		50 lei		Pink		Hârbovăț monastery			May 1994
		100 lei		Orange		Tighina Fort			September 1995
		200 lei	133 × 66 mm	Purple		Chișinău City Hall
		500 lei		Orange and green		Chișinău Cathedral			December 1999
		1000 lei		Blue		Presidential Palace			October 2003
For table standards, see the banknote specification table.

• 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.

Exchange rates

See also

• Economy of Moldova

References

External links

• Coins of Moldova at CISCoins.net
• Catalog of Banknotes of Moldova
• The banknotes of Moldova (in English) (in German)