Romanian Leu (RON)

The Romanian Leu (RON) is the official currency of Romania. It is identified by the ISO 4217 code RON and symbolized by “lei”. The currency is issued by the National Bank of Romania and is used throughout the country.

The history of the Romanian Leu dates back to the 19th century when Romania emerged as an independent state. It was first introduced in the Romanian Principality in 1867. The name “leu” translates to “lion” in Romanian and is derived from the national symbol of Romania, the lion figure.

The Romanian Leu is subdivided into smaller units, with 1 leu being equal to 100 bani. Commonly used banknotes in Romania include denominations of 1, 5, 10, 50, 100, and 200 lei. There are also coins in circulation, including 1, 5, 10, and 50 bani, as well as 1 leu.

RON serves as the primary currency in Romania and is widely used in domestic trade, tourism, and other economic activities. Additionally, due to Romania’s membership in the European Union (EU), RON is also used in trade with other EU countries.

The value of the Romanian Leu fluctuates based on exchange rate policies set by the National Bank of Romania and market conditions. Factors such as the country’s economic situation, inflation rate, interest rates, and other variables can influence the value of RON.

RON is also traded in international foreign exchange markets. Cross rates can be established with other currencies, and the value of RON can fluctuate based on supply and demand dynamics in the foreign exchange markets.

For detailed information about the Romanian Leu or to track exchange rates, you can refer to reliable sources such as the official website of the National Bank of Romania or financial news outlets.