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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 designs of the 1 leu, 5, 10, 50, and RON 100 notes are based on those of the earlier 10,000, 50,000, 100,000, 500,000, and 1,000,000 leu notes which they replaced. The RON 10 note was redesigned in November 2008 (most of the graphic elements are identical, some of the safety elements were changed, making its safety features similar to the ...
The leu notes issued on 1 July 2005 are of equal size to euro banknotes, so that machines will need less refitting once Romania joins the euro zone. This decision was taken after a lot of debate, and with some opposition, the initial decision being to make them even smaller, similar to the 1966 series.
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]
For example, the euro sign € is based on ϵ, an archaic form of the Greek epsilon, to represent Europe; [4] the Indian rupee sign ₹ is a blend of the Latin letter 'R' with the Devanagari letter र ; [5] and the Russian Ruble sign ₽ is based on Р (the Cyrillic capital letter 'er'). [6]
The euro was established in 1999, but "for the first three years it was an invisible currency, used for accounting purposes only, e.g. in electronic payments". [2] In 2002, notes and coins began to circulate. The euro rapidly took over from the former national currencies and slowly expanded around the European Union.
The name euro was officially adopted on 16 December 1995 in Madrid. [15] The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$1.1743 at the time). Physical euro coins and banknotes entered into circulation on 1 January 2002, making ...
It is the same size as the 2002 series 100 Euro banknote. The main color of the banknote is blue. It pictures, on the obverse the playwright, short story writer, poet, theater manager, political commentator and journalist Ion Luca Caragiale, and on the reverse the old building of the Bucharest National Theatre, and the statue of Ion Luca ...