Moldovan Lei (MDL)

Moldovan Lei (MDL) is the official currency of the Republic of Moldova. Moldova is a country located in Eastern Europe and Moldovan Lei has been in use since 1993 when Moldova gained independence following the dissolution of the Soviet Union.

The ISO code for Moldovan Lei is MDL and its symbol is ₼. The currency is represented by banknotes in denominations of 1, 5, 10, 20, 50, 100, 200, and 500. There are also coins in denominations of 1, 5, 10, 25, and 50 bani.

The value of Moldovan Lei is determined by the National Bank of Moldova and is related to exchange rates. Since Moldova shares borders with the Eurozone, the Euro is the most commonly used foreign currency alongside the Moldovan Lei. The US Dollar is also frequently used in conjunction with Moldovan Lei.

The Moldovan economy is primarily based on agriculture, services, and industry. The value of Moldovan Lei can fluctuate depending on factors such as the performance of these sectors, inflation, and economic stability.

The use of Moldovan Lei is mandatory for all commercial transactions and payments within Moldova. Tourists visiting Moldova can also use Moldovan Lei for shopping and availing services.

In conclusion, Moldovan Lei is the official currency of the Republic of Moldova and is used for all commercial transactions within the country. Its value is determined by the National Bank of Moldova and is related to exchange rates.