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RON
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About the Romanian Leu (RON)

What Is the Romanian Leu (RON)?

The Romanian Leu, abbreviated as RON and often denoted by the currency sign “lei”, is the official currency of Romania. It is subdivided into 100 smaller units known as bani. The term "leu" means "lion" in Romanian, reflecting its historical origins linked to the Dutch thaler (leeuwendaalder "lion thaler/dollar"). The Romanian Leu is the sole legal tender in Romania, and it is used for all transactions within the country.

The Romanian Leu is issued by the National Bank of Romania (Banca Națională a României), which is responsible for the country's monetary policy, including the issuance and regulation of its currency. The National Bank of Romania plays a crucial role in maintaining the stability and integrity of the Romanian financial system.

What Is the History of RON?

The Leu has undergone several transformations since its first introduction in 1867. The currency has experienced multiple revaluations, the most recent being in 2005, where 10,000 old lei (ROL) were exchanged for one new leu (RON). This change aimed to align the Romanian currency with Western European standards and improve the country's economic prospects.

Notes and Coins of RON

Romanian currency is available in both coins and banknotes. Frequently used coins include 5, 10, and 50 bani, while the banknotes in circulation are 1, 5, 10, 50, and 100 lei. The banknotes are known for their durability, made from a strong polymer material, making them indestructible.

Is RON Pegged to EUR?

No, the Romanian Leu (RON) is not pegged to the Euro. Romania, despite being a member of the European Union, has its own independent monetary policy, and the Leu operates on a floating exchange rate system. This means that the value of the Romanian Leu is determined by market forces, such as supply and demand in the foreign exchange market, rather than being directly linked or pegged to the Euro or any other currency.

Will Romania Adopt the Euro as Its Currency?

Romania has set a target to adopt the Euro by 2024. The country, a member of the European Union since 2007, has expressed intentions to join the Eurozone, which would involve replacing the Romanian Leu (RON) with the Euro. However, for a member state to adopt the Euro, it must meet certain convergence criteria, often referred to as the Maastricht criteria. Romania has been working towards meeting these criteria, but as of January 2024, it has not yet fulfilled all the necessary conditions.

Is RON a Stable Currency?

The Romanian Leu (RON) had demonstrated relative stability, especially in the context of its recent history. The exchange rates of the Leu against major currencies like the Euro and the British Pound had been fairly consistent, with the average exchange rate in 2023 hovering around 1 EUR to 4.9 RON and 1 GBP to 5.7 RON. This stability is indicative of Romania's growing economic resilience and effective monetary policies. While the Leu had experienced significant fluctuations in the past, particularly during the post-communist transition period, the National Bank of Romania's efforts in recent years have contributed to a more stable currency environment.

What Is the Difference Between ROL and RON?

In 2005, Romania underwent a significant currency reform, transitioning from the old Romanian leu (ROL) to the new Romanian leu (RON) through a process of redenomination. This change was introduced at a rate of 1 RON = 10,000 ROL, primarily to combat high inflation and simplify financial transactions. Along with this shift in value, the new leu featured updated banknotes and coins, distinct in design and enhanced with modern security features to prevent counterfeiting. This currency reform was a crucial part of broader economic reforms aimed at stabilizing the Romanian economy, reducing inflation, and facilitating closer integration with the European Union and international economic systems. During the transition, both currencies circulated simultaneously to ease the adaptation process. The change also included an update on the international currency symbol from ROL to RON, reflecting a new era in Romania's economic development.

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Bitgethot-iconcalculator.compare.best
lei1.86
0.0200% / 0.0320%vip-iconcalculator.compare.vip
Binance
lei1.85
0.1000% / 0.1000%
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Gate.io
lei1.86
0.1000% / 0.1000%
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$13.25M
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$9.12M
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32.59M PROS

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0.5 PROS
lei0.9313
1 PROS
lei1.86
5 PROS
lei9.31
10 PROS
lei18.63
50 PROS
lei93.13
100 PROS
lei186.26
500 PROS
lei931.3
1000 PROS
lei1,862.61

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0.5RON0.2684  PROS
1RON0.5369  PROS
5RON2.68  PROS
10RON5.37  PROS
50RON26.84  PROS
100RON53.69  PROS
500RON268.44  PROS
1000RON536.88  PROS

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0.5 PROS$0.2033$0.2180
-6.74%
1 PROS$0.4066$0.4360
-6.74%
5 PROS$2.03$2.18
-6.74%
10 PROS$4.07$4.36
-6.74%
50 PROS$20.33$21.8
-6.74%
100 PROS$40.66$43.6
-6.74%
500 PROS$203.28$217.98
-6.74%
1000 PROS$406.57$435.97
-6.74%

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0.5 PROS$0.2033$0.1882
+7.99%
1 PROS$0.4066$0.3765
+7.99%
5 PROS$2.03$1.88
+7.99%
10 PROS$4.07$3.76
+7.99%
50 PROS$20.33$18.82
+7.99%
100 PROS$40.66$37.65
+7.99%
500 PROS$203.28$188.24
+7.99%
1000 PROS$406.57$376.48
+7.99%

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0.5 PROS$0.2033$0.1437
+41.50%
1 PROS$0.4066$0.2873
+41.50%
5 PROS$2.03$1.44
+41.50%
10 PROS$4.07$2.87
+41.50%
50 PROS$20.33$14.37
+41.50%
100 PROS$40.66$28.73
+41.50%
500 PROS$203.28$143.67
+41.50%
1000 PROS$406.57$287.34
+41.50%

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