Local market
How the financial system of the Republic of Moldova works — the institutions, regulators and instruments available here, at home.
The Republic of Moldova's financial market is smaller than the international ones, but it has its own institutions, rules and opportunities. Understanding it means knowing who regulates it, where trading happens, what local instruments are available to you and how you can use them — whether to put your money to work or at least to protect it from the erosion of inflation.
We have gathered here the structure of the system, links to the official sources (National Bank, NCFM, Stock Exchange) and the services through which you can invest locally — from government securities to protecting a business against currency risk.
The information in this section is for educational purposes. For official decisions, always check the primary source indicated on each card.
Explore the local market
Moldova's financial system, the official regulators and local investment services.
Moldova's financial system
How the Republic of Moldova's financial system is structured: institutions, roles and money flows, explained for everyone.
National Bank of Moldova
National Bank of Moldova — monetary policy and the official exchange rate.
NCFM
The authority that regulates the non-bank financial market.
Ministry of Finance
The state-debt issuer: T-bills, public debt and the sovereign rating.
Legal trading in Moldova
The legal framework for trading as a resident of the Republic of Moldova, with official sources.
Stock-market taxation
How individuals in the Republic of Moldova declare and pay tax on investment gains.
Moldova Stock Exchange
The exchange operating since 1995: the regulated market, the MTF and what trades today.
Moldova International Exchange
The NCFM granted BIMx its market-operator licence on 21.08.2026. On 28.09.2026 BIMx began admitting trading members and issuers. BIMx has announced its first listing by the end of 2026.
eVMS
Government securities, issued and guaranteed by the state. The yield is known from the start, but the money stays locked until maturity.
Invest in Moldova
How to access the domestic market through a licensed intermediary and what the first steps are.
Hedging for businesses
Protect your business from currency risk.
Exchange rate
Official NBM rates: all currencies, history, charts and a converter.
MD economic indicators
Inflation, the MDL rate, GDP and wages in live charts, from official data.
MD stock and bond charts
Stocks and bonds listed on the MSE (corporate, municipal, government), government-securities yields across all maturities and the eVMS session.
Economic calendar — Republic of Moldova
NBM decisions, statistics releases, VMS auctions and the fiscal calendar.
Not sure where to start on the local market?
Trading.md is not an investment firm licensed by the NCFM and does not open accounts at the Moldova Stock Exchange. What we do: we explain which local instruments exist, how each one is accessed, who the right intermediary is and how gains are declared to the tax authority.
FAQ
Can Trading.md open an account at the Moldova Stock Exchange?
No. Royal Consulting SRL is not an investment firm licensed by the NCFM. For transactions on the local market you need a professional participant licensed by the NCFM. We offer education and consulting: we explain which instruments exist, how they are accessed and which tax obligations arise.
How are trading gains taxed for an individual in the Republic of Moldova?
The gain counts as a capital gain and is declared annually through the CET18 form. Rates, deadlines and worked examples are on the dedicated page.
What is the difference between the Moldova Stock Exchange and the new exchange, BIMx?
The MSE has operated since 1995 and runs the regulated market and a multilateral trading facility (MTF). BIMx is the new exchange, developed with technical assistance from the Bucharest Stock Exchange. The NCFM granted BIMx its market-operator licence on 21.08.2026. On 28.09.2026 BIMx began admitting trading members and issuers. BIMx has announced its first listing by the end of 2026.
Can I buy international shares from an account opened in Moldova?
Yes, through regulated international brokers that accept residents of the Republic of Moldova. This is where our role as an intermediary comes in: we help you compare brokers and open the account.