NBM Rises Authorization Threshold for Foreign Exchange Operations
The National Bank of Moldova (NBM) authorization threshold for foreign exchange operations will increase to 100,000 euros, starting from an unspecified date. Currently, the ceiling is at 10,000 euros. This change aims to simplify procedures for citizens, especially those in the diaspora who want to transfer money home.
The draft law, approved by the Government, seeks to amend the Law on foreign exchange regulation and partially liberalize capital foreign exchange operations. Minister of Finance Victoria Belous said that increasing the ceiling will simplify foreign exchange procedures.
Belous explained: 'The draft law aims at simplifying foreign exchange procedures. It proposes increasing the ceiling from which NBM authorization must be requested from 10 thousand euros to 100 thousand euros, and from 1 January 2028 to 250 thousand euros, for operations carried out by residents in foreign currency.'
The draft also provides for granting foreign exchange offices the right to provide payment services, facilitating the opening of accounts abroad by resident individuals who emigrate, extending the use of foreign currency in certain commercial units, and strengthening the regulatory and supervisory framework of the foreign exchange market.