World

Moldova's leu currency down 25 percent this week amid political, economic uncertainty

Some shops are closed and lines are growing at gas stations in the Moldovan capital of Chisinau after the country's national currency lost one-fourth of its value this week amid economic and political uncertainty.

National Bank governor Dorin Dragutanu said the depreciation of the leu was caused by a greater demand for hard currency and a 3 percent drop in remittances and exports in the last year.

Parliament votes later Wednesday for a second time for a minority pro-European government. It has until March 9 to approve a government or face an early election.

Economic analyst Natan Garstea said Moldova is having a crisis in its banking system after three big banks were recently put under administration of the national bank amid suspicion of money laundering.