Romanian Currency — The Leu (RON) in 2026

What Is the Currency of Romania?

Romania’s currency is the leu (plural lei, symbol lei, ISO 4217 code RON). The name means ‘lion’ and derives from the Dutch leeuwendaalder silver coin that circulated in the Romanian principalities in the 17th century. The modern leu is subdivided into 100 bani. The current ‘new leu’ (RON) was introduced on 1 July 2005 following a 1:10,000 redenomination to erase accumulated 1990s inflation.

The leu is issued by the Banca Națională a României (BNR), founded on 11 April 1880 — one of Europe’s oldest central banks. Romania has been an EU member since 1 January 2007 and is legally bound to eventually adopt the euro, but successive governments have declined to set a target date. The leu operates in a managed-float regime.

Romanian Leu to US Dollar — 1-Year Chart

The chart tracks USD/RON daily close over the past year. The leu’s quiet behaviour in the chart reflects BNR’s active management — the central bank intervenes in FX markets to keep the leu trading in a narrow band against the euro (and therefore indirectly against the dollar).

Over the past 12 months USD/RON has moved only marginally — from roughly 4.32 to 4.33 RON per USD, effectively flat. This reflects BNR’s preference for low FX volatility; the leu has historically been far less volatile than peer currencies like the Polish złoty or Hungarian forint.

Banknotes and Coins

Romania’s current banknote series is unusual: polymer notes, making it the first EU country to issue all banknotes on polymer (since 2005). Each denomination honours a 19th or 20th-century Romanian cultural figure — writers, composers, scientists, and painters dominate.

Coins come in four denominations, all in bani (the leu subunit). Romania is unusual in not having a 1-leu coin — the lowest banknote is 1 leu.

History of The Leu

The leu’s history runs back to 1867 Romanian independence, through two world wars, communism (1947–1989), and three separate redenominations to clear accumulated inflation. Governor Mugur Isărescu — in office since 1990 — has overseen more of Romania’s monetary history than any other living person.

The Romanian Economy and the Leu

Romania is the EU’s twelfth-largest economy and one of its fastest-growing in real-GDP terms over the past decade. The 2025 export mix centres on motor vehicles (Dacia, BMW/Ford plants), electronics, machinery, clothing, and agricultural products. Germany absorbs roughly 21% of exports; the EU as a whole takes around 73%.

BNR targets CPI inflation at 2.5% with a ±1 percentage point tolerance band. After CPI peaked at 16.8% in November 2022, disinflation has been slower than in most peers — February 2026 inflation was still 9.31%, though falling. The policy rate is 6.50%, held through the April 7 2026 meeting. BNR expects inflation to fall sharply in Q3 2026 and to return to the 2.5% target by the first half of 2027.

Using Lei in Romania

Card acceptance is now extensive across Romania’s larger cities. Bucharest, Cluj-Napoca, Timișoara, Iași, and Brașov accept Visa, Mastercard, and contactless payments nearly everywhere. In villages and smaller towns, cash is still common. Tipping (10%) is usually done in cash.

Typical prices in lei (2026): espresso in a Bucharest café 10–16 lei; a substantial meal 50–90 lei in a restaurant; a local mici lunch 25–40 lei; a single Bucharest metro ride 3 lei; a mid-range Bucharest hotel room 280–550 lei. ATMs at Banca Transilvania, BCR, BRD-Groupe Société Générale, and Raiffeisen Bank are widely available and reliable for foreign cards.

The Leu in Regional Context

Romania is part of the EU’s south-eastern cluster, neighbouring Bulgaria (now in the Eurozone), Hungary, and non-EU Moldova and Serbia. The leu is one of the most lightly traded non-euro EU currencies — FX turnover is a fraction of the Polish złoty’s.

Frequently Asked Questions

What is the currency of Romania?

Romania’s currency is the leu (plural lei, symbol lei, ISO 4217 code RON). It has been Romania’s currency since 1867. Subdivided into 100 bani. The current ‘new leu’ (RON) replaced the old leu (ROL) on 1 July 2005 at a ratio of 1 RON = 10,000 ROL to remove accumulated 1990s inflation.

Is Romania in the Eurozone?

No. Romania is an EU member (since 1 January 2007) and is legally required to eventually adopt the euro, but successive governments have declined to set a target date. Romania is not in ERM II and no active preparation for adoption is under way as of 2026.

Who manages Romanian monetary policy?

Banca Națională a României (BNR), founded 11 April 1880, Bucharest. Governor Mugur Isărescu has led BNR since 4 September 1990, making him Europe’s longest-serving central-bank governor. BNR targets CPI inflation at 2.5% (±1 percentage point).

What is the current BNR policy rate?

The BNR policy rate is 6.50%, held at the April 7 2026 meeting. The deposit facility rate is 5.50% and the lending facility rate is 7.50%.

How many lei is one US dollar worth?

At the latest daily close, 1 USD ≈ 4.33 RON. The leu has been essentially flat against the US dollar for 12 months — BNR manages the exchange rate closely via FX interventions.

Why is the Romanian leu polymer rather than paper?

Since 2005, all Romanian banknotes are printed on polymer rather than cotton-paper. Romania was the first EU country to issue all denominations on polymer. Advantages: longer lifespan (2–4x paper notes), better hygiene, and harder to counterfeit. The choice was partly influenced by experience with the Australian and New Zealand polymer notes that pioneered the technology.

Who are on Romanian banknotes?

Eight Romanian cultural figures: historian Nicolae Iorga (1 leu), composer George Enescu (5 lei), painter Nicolae Grigorescu (10 lei), WWI heroine Ecaterina Teodoroiu (20 lei), aviation pioneer Aurel Vlaicu (50 lei), playwright Ion Luca Caragiale (100 lei), philosopher-poet Lucian Blaga (200 lei), and national poet Mihai Eminescu (500 lei).