Moldova: Foreign exchange policy
On 30 June 1995 the Republic of Moldova accepted the stipulations of Article VIII, Sections 2,3 and 4 of the IMF Articles of Agreement; such acceptance allowed the liberalization of current foreign exchange operations.
De facto, it meant the convertibility of the national currency – MDL, which allows economic agents to freely buy and sell foreign currency for all international current operations and for some capital operations.
Now the foreign exchange regime of Moldova is quite liberal and attractive for potential investors due to the following:
- there are no restrictions on exchange of cash foreign currency into national currency and vice versa;
- exporters are allowed to collect and keep income from export on their foreign currency accounts and there is no obligatory selling of foreign currency to the state;
- foreign investors have the right to repatriate profits from their investments.
Credit granting and guarantees to non-residents and other capital transfers to non-residents require the authorization of the National Bank of Moldova.
See also:
NBM - The Central Bank of the Republic of Moldova
Source: Moldova's National Bank (Central Bank)
