The Evolution of Romanian Lei

The leu is the currency of Romania. It is subdivided into 100 bani The name of the currency means "lion". On 1 July 2005, Romania underwent a currency reform, switching from the previous leu (ROL) to a new leu (RON). 1 RON is equal to 10,000 ROL. Romania joined the European Union on 1 January 2007 and it is expected to adopt the euro in 2015.

First leu

In 1867, copper 1, 2, 5 and 10 bani were issued, with gold 20 lei (known as poli after the French (Napoleons) first minted the next year. These were followed, between 1870 and 1873, by silver 50 bani, 1 and 2 lei. Silver 5 lei were added in 1880. Uniquely, the 1867 issue used the denomination 1 banu rather than 1 ban.

In 1900, cupro-nickel 5, 10 and 20 bani coins were introduced, with holed versions following in 1905. The production of coins ceased in 1914, recommencing in 1921 with aluminium 25 and 50 bani pieces. Cupro-nickel 1 and 2 lei coins were introduced in 1924, followed by nickel brass 10, 20 and 50 lei in 1930. In 1932, silver 100 lei coins were issued. However, inflation meant that, in 1935, smaller silver 250 lei coins were introduced with nickel 100 lei coins being issued in 1936, followed by nickel 50 lei in 1937.

In 1941 and 1942, zinc 2, 5 and 20 lei coins were introduced, together with silver 200 and 500 lei. Nickel-clad-steel 100 lei followed in 1943, with brass 200 and 500 lei issued in 1945. In 1946 and 1947, a new coinage was issued consisting of aluminium 500 lei, brass 2000 and 10,000 lei, and silver 25,000 and 100,000 lei.