Exchange rate RON - Romanian leu

Romanian leu exchange rate - chart

Romanian leu

The Romanian leu is the official monetary unit of Romania. It is denoted by the international abbreviation RON. The currency is divided into 100 bani. In Romanian, the name of the currency means lion.

The Romanian leu - where is it used?

The Romanian leu is the legal tender only in Romania. If you're planning to visit Romania for vacation or business, it's a good idea to check the Romanian leu exchange rate.

The history of the Romanian leu

The Romanian leu was first introduced in 1867 while still being under Turkish rule. It was denominated in both silver and gold. However, the first coin in Romania was minted three years later. In 1889 Romania joined the Latin Monetary Union, so payments in silver were only possible up to 50 lei. All bills and customs duties had to be paid in gold, thus the high popularity of 20-franc coins, Turkish gold lira, old Russian imperials and British sovereigns. The lei exchange rate was then pegged to the French franc, for example, at a ratio of 1:1. Romania abandoned the gold currency system in 1914, which triggered the depreciation of the lei. The lei exchange rate was pegged to the U.S. dollar, for which just over 127 lei were paid. Romania's currency during World War II was pegged to the Reichsmark and during the Soviet occupation to the ruble. After the war, the leu's exchange rate against other currencies plunged, resulting in the introduction of the new Romanian leu at an exchange rate of 20,000 old to 1 new. However, there were exchange limits applied to the different social classes, so that only slightly half of all money was exchanged for new money. Another revaluation and the introduction of the third Romanian leu occurred in 1952. This time a different exchange rate was used depending on the type of transaction. Cash was converted differently, while bank deposits or debts were also converted in different ways. From 1970 to 1989, the Romanian leu's official rate was set by the authorities, but private individuals could not exchange currency. It was forbidden and penalized. After communism collapsed, possession of foreign currencies was legalized, which resulted in large fluctuations of the leu exchange rate and very high inflation, which in 2005 made the RON the world's least valuable currency. As a result, the fourth leu was introduced in the same year, which is still in force today.

The Romanian leu - key information

There are 1, 5, 10 and 50 bani coins in circulation. In fact, the smallest denomination is rarely seen, and cash transactions are usually rounded to the 5 bani, although officially, prices are quoted to the hundredth of a lei. The currency is far more common in banknotes, which have been made of polymers since 2005. Romania was the third country in the world to introduce plastic banknotes. They come in denominations of 1, 5, 10, 50, 100, 200 and 500 lei. Interestingly, their size corresponds to the size of euro banknotes, which was supposed to be part of the preparations for introducing the European currency. Eventually, however, plans to adopt the euro were postponed.

Check the Romanian leu exchange rate

The RON is a currency that gains during the holiday season, although traders with business dealings with Romania are also interested. Nevertheless, Romanian leu is hardly available in stationary exchange offices. However, you can exchange it online, using our portal or check its exchange rate by typing leu to euro into the browser.