Romanian Leu
The Romanian Leu is the official currency of Romania. Its currency code is RON, and its symbol is lei. The National Bank of Romania, known as Banca Națională a României, is the country's central bank, responsible for issuing and regulating the Romanian Leu.
Convertible:Yes
Transferable:Yes
Exchange rate regime:Floating
Available currency pairs
Transaction types
FX
Spot
Delivery date
T+1; T+2
Liquidity
High
FX
Forward
Maximum maturity
24 months
Liquidity
Medium
Did you know?
The primary objective of Romania's monetary policy, as implemented by the National Bank of Romania, is to maintain price stability. The bank follows an inflation-targeting strategy, aiming to keep consumer price inflation within a target range.
The National Bank of Romania uses several tools to manage inflation, including the monetary policy rate, minimum reserve requirements, and open market operations. It closely monitors economic indicators and makes adjustments as necessary to maintain economic stability.
Key Features of RON
The Romanian Leu is divided into 100 bani. Coins come in denominations of 1, 5, 10, and 50 bani, while banknotes are issued in denominations of 1, 5, 10, 50, 100, 200, and 500 lei.
Romanian Leu banknotes and coins feature a variety of designs, including portraits of historical figures, local flora and fauna, and cultural symbols. For instance, the 1 leu note features the portrait of Nicolae Iorga, a notable Romanian historian.
Expert Opinion
Financial experts regard the Romanian Leu as an emerging market currency. It can be influenced by a variety of factors, including economic indicators, geopolitical events, and investor sentiment. Romania's economic performance, political stability, and EU membership contribute to the Leu's overall stability.
RON Regulations
The National Bank of Romania is responsible for the regulation of the Romanian Leu. It controls the issuance of new notes and coins, sets monetary policy, and oversees the country's financial system to ensure its stability.
Important information
Payments in RON to Romania
Key considerations to bear in mind
Payment instructions should contain the beneficiary's IBAN, name, and address.
Payment Processing Time
The time taken for a payment to reach the recipient's bank account can vary. Domestic transfers within Romania are typically processed quickly, while international transfers may take a few business days. Consider the processing time when planning your payment to ensure timely delivery. The iBanFirst Payment Tracker can help you track those payments, and ensure a smooth and efficient payment experience.
Fees and Charges
Banks and financial institutions may apply fees and charges when processing international payments. These fees can vary, so it is advisable to check with your bank to understand the charges associated with your transaction. Check out iBanFirst’s Savings Calculator to estimate how much you could save on your next international payment.
Keep in mind
Bank holidays
24
January
Union Day
01
May
Labour Day
01
June
Children's Day
15
August
Assumption Day
30
November
Saint Andrew's Day
01
December
National Day
25
December
Christmas Day
26
December
Boxing Day
New Year's Day
1-2 January
Orthodox Easter Monday
Varies
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