Leu is the national currency of Romania

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

The territory of modern Europe hides many secrets and mysteries from us. Perhaps one of the most interesting for fans of myths and horror is Romania. After all, it was here, according to numerous legends and historical evidence, that the world-famous Count Dracula was born. Therefore, it is absolutely clear that a huge number of tourists from all over the world seek to get to the territory of "vampire" lands. The top questions travelers ask themselves are: "What is the currency in Romania? Can dollars, euros or rubles be freely used and exchanged?"

Leu-Euro Union

It is worth noting that this country is a member of the European Union. Therefore, we can immediately conclude that the significant monetary unit of Romania is the euro. It won't be a mistake. However, this axiom requires clarification. Like many countries, before joining the European Union, Romania had its own national currency. Gradually, the euro took a leading position in the commodity-money relations of many states. But not in this country. The national currency of Romania is called the leu. And it coexists quite comfortably with the Europeancurrency. Each leu includes 100 bans. The nominal value of one banknote is 0.22 euros.

History of the development of the currency unit

The national currency of Romania has a long history. For the first time this sign was introduced into circulation in 1867 by order of the Turkish government, under whose yoke the country was at that time. The nominal value of one leu was equal to the value of the French franc, made of gold. It took twenty-three years to completely withdraw the latter from circulation. And in 1890, the monetary unit of Romania acquired the status of the only national currency.

Like other European countries, this state suffered enormous losses during the fascist occupation. The economy of the state also suffered. Urgent reforms in the banking and financial sectors were needed to get out of the difficult situation. So, in August 1947, the issue of currency was carried out in seven days. At the same time, one new one was given for twenty thousand old lei. Five years later, to completely defeat the financial crisis, a new reform was needed, during which a second devaluation took place. Now the monetary unit of Romania was exchanged as follows:

1. For the first thousand, ten new bank notes were given.
2. The second and the third cost 5 lei respectively.
3. If someone owned a lot of money, then for every next four hundred signs they gave one leu.

Existence in the Eurozone

ThirdMillennium Romania was also affected by the global financial crisis. In the course of a he alth-improving economic policy, a new monetary reform was carried out. It resulted in the introduction of "fresh" leu (RON) into circulation, which was exchanged at the rate of 1:10,000. The main difference between the banknotes of the new sample was the material used for their manufacture - a special polymer. Tickets of the National Bank of the country do not tear, do not get wet, they are difficult to break, they are convenient to use.

Along with the Romanian leu, the euro also “walks” on the territory of the state. Banks also accept other foreign banknotes. The exchange rate in Romania in each bank is approximately the same. Therefore, you can safely take dollars on a trip. It should be remembered that only 50,000 USD can be imported into the country. At the same time, 49,000 of them must be declared. It is forbidden to take lei out of Romania.