Transnistria, a territory not recognized by the international community, has become one of the most peculiar and controversial places on the planet. Located between Moldova and Ukraine, it has an extension of just 4,000 square kilometers and a population that slightly exceeds half a million people. Although its independence is not recognized by any state of the world, Territorior maintains its own government, currency and even a football team that has become famous internationally: Sheriff Tiraspol.
This enclave, with capital in Tiraspol, is known not only for its communist symbolism (with the sickle and the hammer still present in its flag and currency), but also by a series of economic decisions that have left more than one bewildered. One of the most controversial has been the broadcast, in 2014, of a legal tender currency made of plastic. While the measure was presented as an innovation by the Central Bank of Transnistria, the reaction of the population, especially of the elderly, has been negative.
The plastic currencies, which replaced the traditional metal, are decorated with the faces of important Russian historical figures. However, the introduction of this material has caused great discomfort among older citizens, who feel uncomfortable with the touch and durability of these new currencies. “It is impossible to trust something so fragile,” Iván comments, a 67 -year -old Tiraspol resident, who regrets that the local economy has moved away from traditional methods.
The Transnistria ruble, which only has validity within the territory, is at a floating exchange rate that is around 10 rubles per euro, which generates some volatility in commercial transactions with neighboring countries. Despite its proximity to Europe and its economic dependence on Russia, The country’s financial situation remains complicated. Heavy industries and energy production remain the pillars of the transnistic economy, but the lack of international recognition continues to limit its growth in the global market.
