What Currency in Romania?
When traveling to Romania, it is essential to familiarize yourself with the local currency to ensure a smooth and hassle-free experience during your trip. The official currency of Romania is the Romanian Leu (RON). In this article, we will delve deeper into the currency, its history, and its current usage in Romania.
The Romanian Leu has a rich history dating back to the early 19th century. Initially, it was introduced in 1867 as the official currency of Romania, replacing the previous currency known as the Romanian real. The word “leu” translates to “lion” in English, and it was chosen as a symbol of strength and valor.
Since its introduction, the Romanian Leu has undergone several changes and reforms, adapting to the country’s economic fluctuations and political changes. During the communist regime, the currency was artificially kept at an unrealistic exchange rate. However, after the fall of communism in 1989, the Romanian government implemented a series of economic reforms, including a currency reform. In 2005, the new Romanian Leu (RON) was introduced, replacing the old leu at an exchange rate of 10,000 old lei to 1 new leu.
The Romanian Leu is issued and regulated by the National Bank of Romania (BNR), which ensures the stability of the currency and manages its circulation within the country. The bank is responsible for setting interest rates, controlling inflation, and maintaining the overall economic stability of Romania.
Currently, the Romanian Leu is available in the form of banknotes and coins. Banknotes come in various denominations, including 1, 5, 10, 50, 100, and 200 lei. The coins are available in denominations of 1, 5, 10, and 50 bani. It is important to note that the bani coins are rarely used in daily transactions, as their value is very low.
When it comes to using the currency in Romania, you will find that cash is widely accepted, especially in smaller establishments, local markets, and rural areas. However, credit and debit cards are widely used in larger cities, hotels, and restaurants. ATMs are also readily available throughout the country, allowing you to withdraw cash in the local currency.
To ensure the best exchange rates, it is recommended to exchange your currency at authorized exchange offices or banks rather than at hotels or tourist areas. It is advisable to carry some cash with you at all times, as not all establishments accept cards, especially in remote areas.
Now let’s address some frequently asked questions about the currency in Romania:
1. Can I use euros or US dollars in Romania?
While some hotels and larger establishments may accept euros or US dollars, the official currency in Romania is the Romanian Leu. It is advisable to have some local currency for smaller transactions and to avoid unfavorable exchange rates.
2. Are credit cards widely accepted in Romania?
Yes, credit and debit cards are widely accepted in larger cities, hotels, and restaurants. However, it is always good to carry some cash with you for smaller establishments or in case of emergencies.
3. Are there any limitations on currency exchange in Romania?
There are no limitations on currency exchange in Romania. You can exchange your currency at authorized exchange offices, banks, or withdraw cash from ATMs.
4. Can I exchange my currency at the airport in Romania?
Yes, there are currency exchange offices at most airports in Romania. However, the exchange rates may not be as favorable as those offered by authorized exchange offices or banks in the city.
5. Is it better to exchange currency in advance or upon arrival in Romania?
It is generally recommended to exchange a small amount of currency in your home country to cover immediate expenses upon arrival. However, for larger sums, it is advisable to exchange your currency at authorized exchange offices or banks in Romania for better rates.
6. Can I use traveler’s checks in Romania?
Traveler’s checks are not widely accepted in Romania. It is best to rely on credit/debit cards or cash for transactions.
7. Can I use my foreign currency in neighboring countries such as Bulgaria or Hungary?
It is advisable to use the local currency of each country when traveling outside Romania. While some establishments near the border may accept Romanian Leu or euros, it is best to have the local currency for a hassle-free experience.
In conclusion, the official currency in Romania is the Romanian Leu (RON). Cash is widely accepted, especially in smaller establishments, while credit and debit cards are commonly used in larger cities. It is recommended to exchange currency at authorized exchange offices or banks for better rates. Carrying some cash with you at all times is advisable, especially in remote areas. By familiarizing yourself with the currency and its usage, you can ensure a smooth and enjoyable trip to Romania.