In May, the foreign exchange market saw a decline in activity among the general public: the net supply of foreign currency from individuals fell by 13.9 million euros (or 5%) compared to the previous month. Nevertheless, the overall stability of the market remained unaffected, and the degree to which demand for foreign currency from businesses was met even showed positive growth.
Despite the decline in sales by households, the extent to which net demand from economic agents (businesses) was met by supply from individuals increased. This occurred because the demand for foreign currency from legal entities in May declined even faster than the supply. Net demand for foreign currency from economic agents decreased by 55.3 million euros (or 16%) compared to April.
Throughout May, the Moldovan leu remained relatively stable, showing only a slight appreciation against the euro and the U.S. dollar during certain periods of the month. The exchange rate of the Moldovan leu against the euro fluctuated on average from 20.2124 EUR/MDL in April 2026 to 20.1620 EUR/MDL in May 2026. In the structure of net foreign currency supply from individuals, the single European currency continued to account for the largest share (67.7%).
Spikes and dips in citizen activity on Moldova’s foreign exchange market are most often seasonal in nature. In late spring, there is traditionally a temporary lull before the summer vacation period and the start of a massive influx of remittances from the diaspora, which usually peaks in July–August. An additional factor was the cautious behavior of commercial enterprises, which reduced their purchases of foreign currency for imports.
