Currency Exchange: Understanding the Romanian Leu

Introduction

When traveling to Romania, it is essential to understand the currency system to ensure smooth financial transactions. This blog post provides an overview of the Romanian leu, including its history, composition, and conversion rates.

Currency Overview

The Romanian leu (plural lei) is the official currency of Romania. Its currency symbol is Lei and the ISO 4217 code is RON. Each leu is further divided into 100 units called bani (singular ban).

History of the Leu

The leu has been the currency of Romania since 1867, replacing the Romanian franc. The name "leu" is derived from the Romanian word for lion, which was featured on early banknotes.

Conversion Rates

As of the time of writing, the exchange rate between the Romanian leu and the US dollar is approximately 1 RON to 0.21 USD. However, exchange rates can fluctuate, so it is recommended to check the latest rates before making currency exchanges.

Exchanging Currency

When exchanging currency for Romania, it is advisable to do so at authorized currency exchange bureaus or banks. Avoid unofficial money changers, as they may offer unfavorable exchange rates or counterfeit bills.

In conclusion, understanding the Romanian leu is crucial for a successful trip to Romania. By familiarizing yourself with its history, composition, and conversion rates, you can ensure a hassle-free currency exchange experience.