OREANDA-NEWS. On November 29, 1993, a new currency-Moldavian leu has appeared. On June 4, 1991, Moldova adopted the law on the National Bank of Moldova (celebrated as the Day of the banker).

But the section "monetary system of Moldova" did not have the name of the national currency of the country. The name of the currency was chosen between two ducats and leu, and in a year and a half leu was confirmed as the national currency of Moldova.

The birthday of leu is November 29, 1993. Exchange rate of leu is the reflection of the Moldavian economy development. In time of coming into circulation, leu exchange rate made 3.85 leis for US1. This was followed by some devaluation and till the period of economic crisis in 1998, leu exchange rate remains fairly stable- 4.5 leis for US1.

For the first time, the rate of 5 leis per 1 USD was exceeded on October 8, 1998. In December, the exchange rate has reached 9.7062, slightly decreasing up to 8.32 by the end of the year. In 1999, the devaluation of the currency has continued.

The rate of 10 leis (10, 0655) per US 1 was registered on May 4, 1999 and 11 leis (11, 5927) – on May 15, 1999. On November 13, 1999, the rate reached 12 leis (12, 1665) for US 1.

The rate of 13 leis (13.0125) per US 1 was registered on May 5, 2001. In two years on January 16, 2003, it has made 14 leis (14, 0135). Leu has reached its maximum on April 14, 2003, when the rate amounted to 14.7838 leis per US 1.

But on August 19, 2003, leu rate went back to 13, 9995. For the first time revaluation of Moldovan currency was registered: on February 11, 2004 it has made 12,9802 and on April 23, 2004- 11,9768, respectively. From 2004 till 2006 the exchange rate remained at about 12 leis per US 1.

In 2006, on March 12, 2006, it once again exceeded 13 leis (13.0014) for US 1, on January 26, 2007 returned to 12 leis (12,999).

The second stage of revaluation of Moldovan currency started. After six months of relative stability, leu exchange rate has made 11,9622 on June,6, 2007, 10,9357- March 11, 2008 ; 9,9792- June 24, 2008. The most "solid" point was reached on September 3, 2008 - 9.6507 per US 1. In autumn the adjustment of the exchange rate was made and as of September 19, 2008, the exchange rate has again exceeded 10 leis per US 1 (10,005).

Today leu exchange rate to USD makes 10.3795. Perhaps the best birthday present to leu is existing confidence in the national currency of Moldova. The main proof of this is the fact that many companies operating in the country make payments on the contracts in leis.