Romanian Leu_flag

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

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Romania's Monetary Policy

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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.

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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.

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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.

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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.

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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.

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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.

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Important information

Payments in RON to Romania

Key considerations to bear in mind

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Payment instructions should contain the beneficiary's IBAN, name, and address.

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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.

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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

people-to-people
people-to-people

Currency Reference Guide

Get the full currency reference guide, updated by the iBanFirst currency market experts.

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