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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.
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] As of 2025, the only currency on the market is the leu and the euro is not yet used.
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, [ 79 ] but with the deepening of the Euro crisis and with its own problems, such as a low workforce ...
A 500 lei coin and the 2,000 lei note shown above were made in order to celebrate the 1999 total solar eclipse. Whereas the 500 lei coin is currently very rare, becoming a prized collector's item, the 2,000 lei note was quite popular, being taken out of circulation in 2004 (a long time after the 1,000 and 5,000 lei bills were replaced by coins).
In 2007, FRO Spa sold Ductil S.A. to the Russian company Mechel, for 90 million euro. [80] Zahărul S.A. , the town's sugar producer, was acquired by Agrana România , an Austrian-based group that also owned other sugar factories in Roman , a starch factory in Țăndărei and a juice facility in Vaslui .
The exchange rate was pegged at 167.20 lei to US$1 on 7 February 1929, US$1 = 135.95 lei on 5 November 1936, US$1 = 204.29 lei on 18 May 1940, and US$1 = 187.48 lei on 31 March 1941. During Romania's World War II alliance with Nazi Germany , the leu was pegged to the reichsmark at a rate of 49.50 lei to RM 1, falling to 59.5 lei = RM 1 in April ...
In the close vicinity of Măgura, lies the Ciolanu Monastery, a Romanian Orthodox monastery built in the 16th century.. The Măgura sculpture camp was an event that took place during the summers of the years 1970–1986, when students and graduates of the Bucharest Academy of Art were training in sculpture.
Mânzălești is located in the hilly part of Buzău county, in the valley of the river Slănic, a tributary of the Buzău.Due to its location in a high-altitude region, the commune occupies a wide range of altitudes, from 400m in the Slănic river valley to 1,364m at the Cerdac peak.