RON (Romanian New Leu)

AAA

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.

INVESTOPEDIA EXPLAINS '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.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Forex - FX

    The market in which currencies are traded. The forex market is ...
  3. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  4. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  5. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  6. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
Related Articles
  1. The Forex Three-Session System
    Forex Education

    The Forex Three-Session System

  2. Forex Taxation Basics
    Forex Education

    Forex Taxation Basics

  3. Currency Exchange: Floating Rate Vs. ...
    Forex Education

    Currency Exchange: Floating Rate Vs. ...

  4. What Type Of Forex Trader Are You?
    Forex Education

    What Type Of Forex Trader Are You?

comments powered by Disqus
Hot Definitions
  1. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by ...
  2. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  3. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
  4. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
  5. Budget Deficit

    A status of financial health in which expenditures exceed revenue. The term "budget deficit" is most commonly used to refer ...
  6. Floating Exchange Rate

    A country's exchange rate regime where its currency is set by the foreign-exchange market through supply and demand for that ...
Trading Center