The Romanian Leu (RON) is the official currency of Romania. It is abbreviated as "RON" and is often represented by the symbol "lei" (plural) or "leu" (singular). The term "leu" translates to "lion" in English.
Key Characteristics of the Romanian Leu (RON):
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Subunits: The currency is divided into subunits called "ban" (plural: "bani"). One leu is equivalent to 100 bani.
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Coins and Banknotes: The Romanian Leu is available in both coin and banknote forms. Coins come in various denominations, including 1 ban, 5 bani, 10 bani, 50 bani, and 1 leu. Banknotes are available in denominations such as 1 leu, 5 lei, 10 lei, 50 lei, 100 lei, 200 lei, and 500 lei, among others.
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Central Bank: The National Bank of Romania (Banca Națională a României) is the country's central bank responsible for issuing and regulating the Romanian Leu.
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History: The Romanian Leu has undergone several redenominations and currency reforms throughout its history. The most recent redenomination occurred in 2005 when the "new leu" (RON) replaced the "old leu" (ROL) at a ratio of 1 RON to 10,000 ROL.
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Currency Code: The currency code for the Romanian Leu is "RON."
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Currency Symbol: The currency symbol for the Romanian Leu is "lei" (plural) or "leu" (singular).
Usage and Exchange Rate:
The Romanian Leu is used as the official currency for daily transactions, trade, and commerce within Romania. It is also used for international transactions, and its exchange rate fluctuates based on economic conditions and global currency markets.
As with any currency, the exchange rate of the Romanian Leu against other currencies can vary over time due to factors such as interest rates, inflation, geopolitical events, and economic indicators.
Conclusion:
The Romanian Leu (RON) is the official currency of Romania, divided into subunits called "bani." It is used for everyday transactions, trade, and international commerce within the country. The currency's exchange rate fluctuates based on various economic and market factors.