Romania is a country surrounded with mystique. Part of the Baltic countries it has a past of vampires and gypsies. Its major economy is a service-based one. Its currency consists of lei (singular leu).It trades at 100 bani for each leu under the initials RON.
History
Coins have been in Romania since the 5th and 4th centuries B.C. Greek settlers produced currency at the city of Istrus on the Black Sea Coast. The coin is actually a somewhat strange design for a Greek people. On the reverse, is a sea eagle clutching a dolphin while on the obverse, is two joined human faces but one is upside down. There were also more regular Greek coins issued at the colonies of Callatis and Toni. There were also posthumous “Alexander” gold and silver coins circulating in Istrus and Callatis in the 3rd century B.C.
Inland, there were imitations of Greek and Macedonian coins from the 3rd to the 1st century B.C. The coins achieved a high level of design variations including many abstractions. Of the money circulating, the most common were tetradrachms. In the late 2nd and early 1st centuries B.C., there were also smaller silver coins, Apollian drachms and Dyrrhachium from Illyria. Roman denarii also made their way into the country followed by a wave of later imitations of these coins.
The Roman period
of Romanian coinage in 1st century AD had as its basis the denarii.
Even the Greek cities in the east producing their own coinage decided
to follow the Roman design. There were both local issues and those from
the Imperial mint in Rome. When first Rome and then Byzantium fell, the
Slavs gained control. This preceded the rise of the Bulgarian Empire in
the 9th and 10th centuries. During these periods, the use of coins
dwindled.
In the 2th century, a new influence crept in from
Hungary and Slavonia. Regional coins included Bulgarian, Genoese,
Hungarian, Serbian, Slovenian and Venetian. Native coinage eventually
made its appearance as part of this medieval mélange in the mid-13th
century under Vladislave I of Wallachia (1364-1377). He issued 3
denominations of ducats, dinars and bani. This was matched by Moldavian
coinage under Bogdan I (1348-1358), but he decided to copy the Polish
kwartnik.
The rise of the Ottomans ended Moldavian coinage. Moldavia did circulate some coins under Voivodes and Turkish protection. These were the groschen. In the 16th century, you also had the brief rule of John Jacob Heraclides who produced his own ducats and talers. In Transylvania, however, the currency continued distinct. This country decided to avoid the Turks by placing itself under Hungarian rule. Between 1526 and 1699, currency was plentiful including ducats, obles, deners, groschen and talers.
In 1699, the Hapsburgs assumed ruler of much of Poland. Moldavia and Wallachia, however, were still under Turkish control. The situation became more confused with the invasion of and occupation by Russia in 1768. This lasted until 1774. By 1866, Moldavia and Wallachia were associated with Romania, although still under Turkish control. Finally, in 1877, Romania emerged.
The first coinage of the Kingdom of Romania appeared in 1881 under Carol I (1866-1914). The new coinage featured the king’s head. During WWI all coinage ceased. It remained so into the 1920s. Poland, now including Transylvania (1918) was hit hard by inflation following the war. This did not let up during the Great Depression.
During WWII, Romania chose to fight with Germany as a Fascist country. Afterwards, they faced occupation by Russia. The result was the People’s Republic of Romania in 1947. The new regime instituted a currency reform using the lei and bani. New coins appeared in 1948 followed by further issues and changes between then and independence in 1989.
In 1989, Romania joined the many other bloq countries in establishing their own nation and coinage. The impact of change and inflation resulted in several alterations to the coinage. This included new coins in 1999, 2000 and 2001.In 2005, Romania replaced the leu with a new leu at the rate of 10,000 old leu equal 1 new leu. It may undertake further changes in currency in 2014 if it joins the European Union. Today, its coins are 1, 5, 10 and 50 bani while its banknotes are 1, 5, 10, 50, 100, 200 and 500 lei.
Obtaining Romanian Lei
You
can exchange your own currency only in official establishments. This
includes both banks and private foreign exchange offices. You may be
able to et a better rate at the banks, check first. Hotels are also
able to change your currency. There are street moneychangers, but avoid
them. They are illegal.
Another common source of currency is ABMs
or ATMs. They are increasingly expanding their service into even
smaller towns. Check with your bank as to rates and charges.
Protecting Your Currency
Urban areas are the most common places to find petty crime against tourists. Bucharest is one of the cities in which pickpocketing, purse snatching, and mugging may occur. Be careful on crowded buses or streets. Take the usual precautions including not showing any sign of affluence.
Using Your Romanian Lei
The economy of Romania focuses on cash. Bring your money if you plan to dine, munch from a street vendor or troll the souvenir booths or markets. Go to the National Peasant Museum shop if you want to buy some authentic clothing. You can also purchase carpets, glass and porcelain as possible gifts. If you want to be unusual, buy a wild boar skin. If you want to be tacky, there are always lots of Dracula items for sale in Transylvania.
Travel Tips and Warnings
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Romania suffers from extreme temperatures. If this occurs in summer or winter, you may be stuck without power.
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Visit the resorts on the Black sea or hike or ski in the Sinai.
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Stay in Bucharest and visit the Parliamentary Palace as well as the National Art museum, the Old Court Church and the Volevodo Palace.
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Go see the star-shaped citadel of Alba Iulia or the Suceava in the province of Moldavia.
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If you must, go to visit the birthplace of Vlad in Tepes with its cobblestone streets, Gothic spires, Museum of Medieval Armory and Torture Room.
- If you do that, you might as well go to Bran Castle in Transylvania.
Currency Summary
Current currency: Lei (leu singular)
100 bani equal 1 leu
Coins: 1, 5, 10 and 50 bani
Banknotes: 1, 5, 10, 50, 100, 200 and 500 lei