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Romania's national currency is the leu.After Romania joined the European Union (EU) in 2007, the country became required to replace the leu with the euro once it meets all four euro convergence criteria, as stated in article 140 of the Treaty on the Functioning of the European Union. [1]
The Romanian leu (Romanian pronunciation:, plural lei; ISO code: RON; numeric code: 946) is the currency of Romania. It is subdivided into 100 bani ( Romanian pronunciation: [banʲ] , singular: ban [ban] ), a word that also means "money" in the Romanian language .
Denmark is the only EU member state which has been granted an exemption from using the euro. [1] Czechia, Hungary, Poland, Romania and Sweden have not adopted the Euro either, although unlike Denmark, they have not formally opted out; instead, they fail to meet the ERM II (Exchange Rate Mechanism) which results in the non-use of the Euro.
The leu notes issued on 1 July 2005 are of equal size to euro banknotes, so that machines will need less refitting once Romania joins the euro zone. This decision was taken after a lot of debate, and with some opposition, the initial decision being to make them even smaller, similar to the 1966 series.
On 1 July 2005, Romania underwent a currency reform, switching from the previous leu (ROL) to a new leu (RON). 1 RON is equal to 10,000 ROL. Romania joined the European Union on 1 January 2007 and initially hoped to adopt the euro in 2014, [ 80 ] but with the deepening of the Euro crisis and with its own problems, such as a low workforce ...
The name euro was officially adopted on 16 December 1995 in Madrid. [15] ... Moldova (Moldovan leu, MDL) Romania (Romanian leu, ...
The current one leu banknote is the smallest circulating denomination af the Romanian leu. It is the same size es the 5 Euro banknote . The main color of the current banknote is green.
The ten lei banknote is one of the circulating denominations of the Romanian leu.It is the same size as the 20 Euro banknote.. The main color of the banknote is pink. It depicts painter Nicolae Grigorescu on the obverse and a traditional house from Oltenia on the reverse, and a detail from the painting Rodica.