Romanian Leu

About The Romanian Leu: The Strong Currency of Romania

Quick Facts About the Romanian Leu Notes

Country of Origin	Romania
Symbol	lei
Currency Code	RON
Nick Names
Minor units	Ban
Denominations (Banknotes)	1 leu, 5 lei, 10 lei, 20 lei, 50 lei, 100 lei, 200 lei and 500 lei
Motto
Identification Feature	On the obverse side of 500 lei note, you will find the image of Mihai Eminescu and tilia.
Issuing Bank	National Bank of Romania
In Circulation Since	1867

The Romanian new leu, also abbreviated as RON, is the official currency used across the country. You will make the majority of your purchases with a single leu, which is denoted on the exchange as the plural with the symbol lei but is actually just a single unit of currency. The abbreviation for the Romanian currency is "RON." The use of Old Leu was discontinued in 2005 and was replaced by New Leu; this is where the "N" in RON comes from. There is not a predetermined exchange rate in place between the currency and the euro or any other currency as of right now, but that is expected to change in 2024 when the euro is scheduled to become the de facto standard. The Romanian leu symbol is lei.

The coins with the lowest denominations in Romanian new lei are the ones with values of 1 ban, 5 bani, 10 bani, and 50 bani. There are several different denominations of the new lei currency, beginning with one lei and continuing up to five, ten, fifty, one hundred, and five hundred.

The Romanian leu exchange rate is INR (0 🔄) .

History of the Romanian Leu

Despite the extensive use and exchange of euros and U.S. dollars in Bucharest, the Romanian lei are used as the principal standard throughout the rest of the country. The Romanian leu symbol is lei.

Since 1867, the value of one leu has been revised multiple times, resulting in four distinct iterations. In July of 2005, the Romanian government decided to switch from the old leu (ROL) to the new leu (LOU), with the exchange rate being 10,000 ROL to 1 LEU. The present version and the previous leu were both in circulation throughout the changeover phase, which lasted from March 2005 until December 2006.

On July 1, 2005, the leu underwent a revaluation in which 10,000 "old" lei (ROL) were exchanged for one "new" leu (RON). This brought the leu's purchasing power back into line with that of other major Western currencies.

After suffering significant losses as a result of the global financial crisis that began in 2008 and the ensuing European economic recession, the Romanian new leu has been steadily making strides toward a full recovery.

Beginning on July 1, 2005, all accounts were updated, but the previous ROL banknotes continued to be used until December 31, 2006. (coins stayed in circulation only until 31 December 2005). When it comes to exchanging currencies, time is not a factor in any way. Retail establishments were required to display prices in both currencies beginning March 1, 2005 and continuing until June 30, 2006.

Throughout the course of its existence, the leu has been pegged to a number of different currencies, including the reichsmark of Germany, the dollar of the United States, and the ruble of Russia. Even though Romania is widely anticipated to fully adopt the euro by the year 2024, please note that the leu is not pegged to the euro at this point.

Countries Accepting the Romanian Leu

Amount in the Romanian Leu You Should Carry for Your Trip

There are many aspects that might have a significant impact on the total cost of a trip to breathtaking Romania. Your vacation spending plan will be significantly impacted by the prices of travelling to and staying at your location, as well as the costs of purchasing food and beverages while you are there. A traveller visiting Romania who sets a daily budget of just lei144 will end up saving a considerable amount of money at the end of their trip. It is not difficult to spend more than lei647 in a single day on a luxury vacation, which includes dining at restaurants with Michelin stars and staying in hotels with five stars or higher. In contrast, the cost of a vacation for two individuals might range anywhere from lei350 to lei1350.

The price of your room per night in Romania could be anywhere between lei47 and lei252. On the other hand, the cost of your transportation each day could range anywhere from lei33 to lei170, and this figure is independent of whether or not you take public transportation or a private automobile.

All in all, you can keep an eye on the live Romanian leu rate in order to exchange your currency notes.