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Romania's Currency: The Romanian Leu

A Brief Overview

The Romanian leu (pronounced “lay-oo”) is the official currency of Romania. It is denoted by the symbol “lei” and has the currency code “RON”. The leu is divided into 100 smaller units called “bani”.

History

The Romanian leu was introduced in 1867, replacing the Romanian franc. It was initially pegged to the French franc, but later adopted a peg to the gold standard. The leu underwent several devaluations in the 20th century, particularly after the collapse of the communist regime in 1989.

Current Value

As of March 8, 2023, one Romanian leu is equivalent to approximately 0.20 US dollars. The leu has been relatively stable against the US dollar in recent years, with only minor fluctuations.

Currency Exchange

When traveling to Romania, it is important to exchange your foreign currency into Romanian lei. This can be done at banks, exchange bureaus, and hotels. It is recommended to compare exchange rates before exchanging currency to ensure the best deal.

Cashless Payments

Romania has a growing number of businesses that accept cashless payments, including credit cards, debit cards, and mobile payments. However, it is still common to use cash in smaller shops and rural areas.

Conclusion

The Romanian leu is a stable and widely accepted currency that plays a vital role in Romania's economy. Visitors to Romania should be aware of the exchange rate and currency conversion options before traveling to ensure a smooth and convenient experience.

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