Countering Misinformation: The Exchange Rate Is Not Set or Changed by the National Bank of Moldova
Automatically translated summary. The full text is available in Romanian.
An information note from the National Financial Education Campaign, run by the National Bank of Moldova and Independent Think Tank “Expert-Grup”, debunks the belief that the National Bank sets the exchange rate in the Republic of Moldova. It explains how the leu's rate is formed and what rights consumers have when exchanging currency.
In Moldova, as in many other countries, the exchange rate is floating and forms freely on the foreign exchange market through supply and demand. The National Bank may intervene, for example by selling reserves to ease sudden spikes in demand for imports, but such interventions are infrequent. Its fundamental objective is price stability, not a particular rate. Each working day it publishes official rates, used only for accounting and statistical purposes, while commercial banks and exchange offices set the market rates.
Customers have the right to clear information on rates and commissions, to a receipt, and to revoke an exchange within 30 minutes if the rate has not changed. Exchange offices must accept banknotes deemed payable under National Bank criteria. The note advises exchanging money only at licensed entities, comparing offers, checking the cash received and keeping the receipt. The National Bank does not exchange currency with the public. The information line is 022 822 502.
Recent publications from Financial sector
See all
Monitoring Report on the Implementation of the State Property Management Strategy for State-Owned Enterprises and Companies with Fully or Majority State Capital
Position Paper. The Involution of the Budget Process in the Republic of Moldova
Position Paper “Government Factoring – a Solution for Reviving Moldova’s Agricultural Sector”
