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The Romanian Currency

The unit of currency in Romania is “leu”, divided into 100 “bani”. The Romanian National Bank is the bank of issue and handles government funds and state-owned enterprises.

On the 1th of July, 2005, the Romanian National Bank introduced new banknotes and coins (redenomination). The Romanian leu (ROL) was substituted by the new leu (RON) in a ratio of 10,000:1. As of that date 10,000 old leu equaled 1 new leu. The redenomination went into effect for all prices in leu - goods, services, bank accounts, and savings bonds. Until June 30, 2006, all prices must be stated both in new and old leu; after that date, all prices will be stated in new leu only. The entire process was performed in order to facilitate all payments, as well as all accounting and exchange operations.

Simultaneously with the redenomination, the Romanian National Bank began to circulate new banknotes and coins. Beginning on July 1th, 2005, there were 4 new coins and 6 new banknotes in circulation. Until December 31st, 2006, all individuals and sales persons are obliged to accept both old and new banknotes and coins; after that date, the old currency may be exchanged for new one at any branch of the RNB.

Coins