KYIV (Reuters) – Moldova switched to using the euro from the dollar as the reference currency for the official exchange rate of the Moldovan lei, president Maia Sandu said on Thursday.
“With over 60% of our trade and 70% of remittances in euro, the move strengthens our economic ties with the EU, bringing more stability and predictability for all Moldovans,” Sandu said on X.
The country’s National Bank, in a statement published on Nov. 15, said that the switch from using the U.S. dollar reflected Moldova’s economic shift towards the European Union market and would reduce fluctuations in the exchange rate.
(Reporting by Anastasiia Malenko; Editing by Toby Chopra)
