Beginning in the late fifth century BC, a wide variety of coins were issued in Romania during ancient times, including Greek and Celtic coins as well as those from native Getae and Dacian tribes. Romania was incorporated into the Roman Empire around 107 and Roman coins circulated within Romani from then until the fall of the Roman Empire.
Byzantine coins circulated in Romania even after the Slavic invasion of the sixth and seventh centuries and the rise of the Bulgarian Empire in the ninth and tenth centuries. By the fourteenth century, coinage in present-day Romania was a mixture of Hungarian, Bohemian, Slavonian, Bulgarian, Venetian, Genoese and Golden Horde coins. Vladislav I of Wallachia (1364-77) issued silver ducats and dinars as well as base-silver bani.
In Moldavia, Bogdan I (1348-55) issued coins copying Polish kwartnik. Although Moldavia fell under Turkish influence, Transylvania fell under the control of Hungary until 1526 when Hungarian power collapsed and Transylvania became an independent principality until 1699 when it fell under Hapsburg control. Gold ducats, silver talers and base metal oboles, denars and groschen were produced during early modern times.
Between 1700 and 1861, the Habsburgs issued coins for Transylvania while Moldavia and Wallachia remained under Tukish control. Russia occupied Turkish Romania between 1768 and 1774 when special coins were issued with 2 para equal to 3 kopeks.
Present-day Romania covers the territories of the Principality of Walachia, The Principality of Moldavia, and the Grand Principality of Transylvannia. The Principality of Walachia was founded in 1324, and the Principality of Moldavia was founded in 1352. The two were merged on December 23, 1861 to form the United Romanian Principality. In 1878 full independence was achieved, and in 1881 a Kingdom was established Transylvania was in personal union with the Hungarian Kingdom, and thus part of the Austro-Hungarian Empire in the Nineteenth Century. During World War I, Romania was occupied by Austria, Hungary, Bulgaria and Germany. After World War I, Romania gained control over Transylvania, Dobrudja, Bucovina, Bessarabia Temesvar and eastern Banat Bacska. Romania sided with Germany in World War II, but was occupied by Russia in 1944. Romania changed its ISO Country Code from ROM to ROU in January 2002.
The Ottoman Empire Piastre (XOTP) circulated in Romania while it was part of the Ottoman Empire. After gaining its independence in 1861, Romania linked its currency, the Leu, to the French Franc when it joined the Latin Monetary Union in 1867 with 1 Silver Leu (ROS) equal to 1 Franc Germinal. The National Bank of Romania began issuing banknotes in 1880.
In August 1940, Bessarabia and Bukovina were ceded to the USSR, and Soviet Gold Rubles (SUG) were used in these provinces until they were retaken by Romanian and German forces in September 1941. Bulgarian Lev (BGO) were used in Dobrudja, occupied by Bulgaria in September 1940, and Hungarian Pengo (HUP) were used in Transylvania while it was occupied by Hungarian forces beginning in September 1940. During World War II, Romania issued special Leu banknotes (ROI) by the Institutul de Finantare Externa (INFINEX) during its occupation of territory within the Soviet Union. The Soviet Union, in turn, issued Red Army Leu (ROR) banknotes when it occupied Romania.
Romania introduced a New Leu on August 15, 1947 with 1 New Leu (RON) equal to 20,000 old Lei, though the exchange of banknotes into the new currency was limited. A second currency reform was introduced on January 28, 1952 with 1 Leu (ROL) equal to 400 old Lei. The Leu is divisible into 100 Bani. The Banca Nationala a Romaniei issued banknotes beginning in 1880, though the Ministry of Finance issued some small denomination banknotes. The Banca Generala Romana issued banknotes while Romania was under German occupation in World War I, the Russian Comandamentul Armatei Rossii issued banknotes in 1944, and the Institutul de Finantare Externa (Infinex) issued banknotes in the occupied terriotires of the Soviet Union. |
