Currency and Exchange Rate: Romania’s currency is the leu (pl., lei); 100 bani (sing., ban) equal one leu. On July 1, 2005, Romania redenominated the currency; a new (or heavy) leu is valued at 10,000 old lei. New notes will have the same dimensions as euro notes of similar value, and they will use the same colors and design as their corresponding old leu equivalents (for example, the 100 new lei note will look similar to the 1,000,000 old lei note). Prior to redenomination, the leu was one of the least valued currencies in the world, with US$1 buying 29,891 lei. As of early July 2005, US$1 equaled 3.02 new lei.
Fiscal Year: Calendar year