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Wednesday, January 19, 2005

New Romanian currency as of 1st of July

As of 1 July 2005, 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 December 2006, the existing banknotes and coins, i.e. the old lei, are to be replaced gradually by the new banknotes and coins.

Starting 1 January 2007, 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 December 2009.

More about this:
The law on the redenomination of domestic currency.

Posted by Mihai : 1/19/2005 02:42:00 pm