BNR: Redenomination of domestic currency

National Bank of Romania

General information

As of 01.07.05, the leu (ROL), Romania's legal tender, will be subject to redenomination so that 10,000 old lei, in circulation on that date, shall be exchanged for 1 new leu (RON). The existing banknotes and coins, i.e. the old lei, shall be legal tender until end-December 2006. By 31.12.06, the existing banknotes and coins, i.e. the old lei, are to be replaced gradually by the new banknotes and coins. Starting 01.01.07, the exchange shall be made only at the NBR branches carrying out payments and at the offices of the credit institutions authorised by the NBR Governor's order to perform the exchange, during a three-year period, at most, until 31.12.09.

Presentations and interviews

Event: "Denominarea leului - punctul de vedere al sistemului bancar" (Redenomination of the Leu from the Perspective of Romanian Banks), held by NBR on 17.11.04:

• Presentation by Governor Mugur Isărescu (Romanian only, pdf-file: 685K)

• Presentation by First Deputy Governor Florin Georgescu (Romanian only, pdf-file: 228K)

• Presentation by Deputy Governor Eugen Dijmărescu (Romanian only, pdf-file: 372K)

Reference Documents

• Law on the redenomination of domestic currency Law No. 348 of 14 July 2004 (published in Monitorul Oficial al României, Part One, No. 664 of 23 July 2004)

• Specifications of Ministry of Public Finance Order of Ministry of Public Finance No.1840/2004 (published in Monitorul Oficial al României, Part One, No.1247 of 23 Dec. 2004)