Rumanian Leu

The Rumanian leu , lei in the plural (ISO code 4217 RON, initials of ROmanian New leu . ), of the Romania since the monetary reform of July 1st 2005 is the monetary unit.

It replaced the Rumanian leu (code ISO 4217 ROL, acronym of " RO manian L eu" ,) at the rate of 1 RON = 10.000 ROL.

Foreign exchange rate

August 31st, 2007, foreign exchange rate was of

1 EURO = 3.0249 RON
1 USD = 2.3934 RON
1 GBP = 4.8329 RON

History of Rumanian Leu

The word leu means Lion - it would be the name given to parts Dutchwomen (the Taler S), marked of a lion and which circulated in some of the Rumanian provinces to the Moyen-âge.

The " leu" with the April 22nd 1867 was born, after the promulgation of the new monetary law by the king Charles Ier of Romania (of the family Hohenzollern). It weighed 5 grams of Argent. The Ottoman Empire (the Rumanian kingdom will spend 10 more years to leave the Othoman bosom completely) protested against this mark of Rumanian independence and the government launched at the beginning only the " ban" , under-divison leu (1, 2,5 and 10 " bani" , out of copper, products with Birmingham). In 1868, the King orders the emission symbolic system of 200 Monnaie S of 20 " lei" , in Gold, struck by the inscription " Carol, king of the roumains" , followed new protests on behalf of the Othomans Turkish and also on behalf of the Austria-Hungary (which occupied the Transylvania) and Russia (which occupied the Bessarabia, partly current République of Moldavie). But the March 3rd 1870 east creates with Bucharest Moneterie of State, which it even year strikes the currencies of 1 " leu" of money and that of 20 " lei" of gold. The currencies of king Charles Ier will be drawn by famous engravers of the time (1867 - 1910), German and French (Kullrich, Scharf, Tasset). Guaranteed out of gold and money, the " leu" Rumanian remained a currency stable Européen until the Second world war. First banknotes in " lei" were emitted by the National Bank of Romania (BNR) between 1877-1881. The current seat of BNR was built between 1884-1889 according to the plans of the architects French Albert Galleron and Cassien Bernard.

A leu is divided into 100 banished (singular: round of applause ), banished which was hardly any more used before the monetary reform of July 1st 2005 when the Rumanian national Bank (BNR) decided to remove four zeros in order to give rise to New the leu Rumanian ( leu nou ). Indeed, since the fall of the Communist regime, in December 1989, the prices were multiplied by 2.400 and the BNR emitted cuts of a million lei (approximately 27 euros). Inflation after having reached somments in 1993 is finally brought back to less than 10% (9,3% in 2004). From now on the large banknote is of 500 lei (153 € approximately) and the Inflation annual in July 2007 is to 3,8%.

The passage to the Euro is planned only for 2012, according to Mugur Isărescu, the governor of the BNR. The new tickets identical to old, except for the four zeros are removed and the new cuts have the same size as the tickets in euros, in order to facilitate the future transition.

The new currency was officially inaugurated in the night of the June 30th 2005 at midnight by a money withdrawal in front of the cameras by the Rumanian president Traian Băsescu, the Prime Minister Călin Popescu-Tăriceanu and by the aforementioned governor.

Rumanian coins

Rumanian banknotes

External bonds

www.bnro.ro - Banca Naţională has României (National Bank of Romania)

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