Moldova to Adopt Euro as Reference Currency Starting January 2025

President Maia Sandu has welcomed the National Bank of Moldova's decision to adopt the euro as the reference currency for establishing the official exchange rate of the Moldovan leu, effective 2 January 2025. The euro will replace the U.S. dollar, reflecting Moldova’s growing economic alignment with the European Union, CE Report quotes MOLDPRES

The move is expected to enhance foreign trade by reducing currency exchange costs, improving financial predictability for exporters and investors, and simplifying international transactions. "This decision will bring clarity to Moldovan companies exporting to Europe, allowing them to plan investments and commercial operations with greater confidence," President Sandu stated.

Currently, over 60% of Moldova’s foreign trade is conducted in euros, and 70% of remittances sent to Moldovans are also in the currency, making the shift both timely and necessary.

Additionally, Moldova aims to join the Single Euro Payments Area (SEPA) in 2025, enabling faster and cheaper transfers between Moldova and European countries. President Sandu emphasized that adopting the euro is "not only a technical adjustment but a symbol of Moldova’s economic integration into the EU," reinforcing stability and attractiveness for foreign trade and investments.