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Romania's national currency is the leu.After Romania joined the European Union (EU) in 2007, the country became required to replace the leu with the euro once it meets all four euro convergence criteria, as stated in article 140 of the Treaty on the Functioning of the European Union. [1]
Third leu - ROL(1952-2005) banknote issue: 1952; coin issue: 1963; banknote issue: 1966; coin issues: 1966 (actually minted in 1967, re-issue of the 1963 design), 1992, 1993 (re-issues: 1994, 1995, 1996) Fourth leu - RON (since 2005) banknote issue: 2005 (redesigned issue of the former 10.000 lei banknote, whereas 10.000 third lei = 1 fourth leu)
A 500 lei coin and the 2,000 lei note shown above were made in order to celebrate the 1999 total solar eclipse. Whereas the 500 lei coin is currently very rare, becoming a prized collector's item, the 2,000 lei note was quite popular, being taken out of circulation in 2004 (a long time after the 1,000 and 5,000 lei bills were replaced by coins).
1 leu 18 mm 2.5 g brass value, ears of wheat on the sides "ROMANIA", royal coat of arms, olive branches, year of minting 2 lei 21 mm 3.5 g bronze 5 lei 23 mm 1.5 g aluminium value, ears of wheat portrait of King Michael, "MIHAI I REGELE ROMANILOR", year of minting These images are to scale at 2.5 pixels per millimetre.
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Denmark is the only EU member state which has been granted an exemption from using the euro. [1] Czechia, Hungary, Poland, Romania and Sweden have not adopted the Euro either, although unlike Denmark, they have not formally opted out; instead, they fail to meet the ERM II (Exchange Rate Mechanism) which results in the non-use of the Euro.
The euro is used in the 20 eurozone countries and 4 European microstates (dark blue). It is also used de facto in (Montenegro and Kosovo) (red) The euro came into existence on 1 January 1999. [2] The euro's creation had been a goal of the European Union (EU) and its predecessors since the 1960s. [2]
The exchange rate was pegged at 167.20 lei to US$1 on 7 February 1929, US$1 = 135.95 lei on 5 November 1936, US$1 = 204.29 lei on 18 May 1940, and US$1 = 187.48 lei on 31 March 1941. During Romania's World War II alliance with Nazi Germany , the leu was pegged to the reichsmark at a rate of 49.50 lei to RM 1, falling to 59.5 lei = RM 1 in April ...