NBM phasing out 1, 5, 10 Lei notes; Coins will replace them
The National Bank of Moldova (NBM) is gradually withdrawing the 1, 5, and 10 Lei banknotes from circulation as they become worn.
The institution has opted for a natural substitution process, replacing these banknotes with coins of the same value.
"The 1, 5, and 10 Lei banknotes are currently circulating in parallel with the corresponding coins. However, once they reach the National Bank, they are withdrawn from the monetary circuit. When a decision is made regarding their definitive withdrawal, a deadline will be announced, but there is still time until then," stated Corneliu Crețu, Head of the NBM’s Cash Operations Department, in an interview with Svetlana Bogatu for the "Zi de Zi" show on Radio Moldova.
Crețu mentioned that low-denomination banknotes wear out much faster than others. To optimize cash usage, the NBM introduced 1, 5, and 10 Lei coins in 2018, as well as the 2 Lei coin, for which there is no corresponding banknote.
Asked if a person can recover the value of a damaged banknote, Crețu specified that banknotes that are dirty, torn, burned, written on, or show other signs of wear can be replaced free of charge at the NBM and at any branch of commercial banks nationwide.
"People should not worry. The only requirement is that at least 55% of the authentic banknote's surface remains intact," explained the Head of the NBM’s Cash Operations Department.
The National Bank of Moldova continuously improves the security features of the national currency. The last update was made in 2015.
"New security features are constantly appearing. Through these, central banks convey confidence to citizens that the banknote is authentic and can be used as a legal means of payment," Crețu emphasized.
Authentic banknotes are easily recognizable due to the security thread incorporated into the cotton substrate, as well as the watermark featuring the portrait of Stephen the Great (Ștefan cel Mare) and the NBM acronym, visible when the banknote is tilted or viewed through a light source.
If doubts persist, operators at any bank counter can be asked to verify the banknote using infrared or ultraviolet light. Banknotes suspected of being counterfeit are forwarded to authorities for further checks, and confirmed fakes are withdrawn from circulation.
November 29th: National Currency Day
November 29th marks the 32nd anniversary of the introduction of the Moldovan Leu (MDL). The Leu replaced the Soviet Ruble and the temporary National Bank of Moldova coupon, which was introduced in 1992 and circulated in parallel with the Ruble.
Starting December 2, 1993, at 6:00 PM, the Leu became the sole legal means of payment across the Republic of Moldova.
Translation by Iurie Tataru
