RON (Romanian New Leu)

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DEFINITION of 'RON (Romanian New Leu)'

The currency abbreviation for the Romanian new leu (RON), the currency for Romania. The Romanian new leu is made up of 100 bani and is often presented with the symbol L. The new leu is expected to remain the currency of Romania until it adopts the euro in 2014.

BREAKING DOWN 'RON (Romanian New Leu)'

The old Romanian leu (currency symbol ROL) was replaced by the new leu in July of 2005 at a rate of 10,000:1. The new leu is the fourth leu in a series of currencies brought about through revaluations since 1867; it was used alongside the previous leu from March of 2005 until June of 2006, during the conversion period.

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