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RUMANIAN CURRENCY

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  • HARDY BREIER
    RUMANIAN MONETARY REFORM. A YEAR AGO ,THE RUMANIANS DECIDED TO STABILIZE THEIR CURRENCY . AS THE EXCHANGE RATE WAS ABOUT 30,000 LEI TO THE DOLLAR THEY DECIDED
    Message 1 of 1 , Jun 7, 2006
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      RUMANIAN MONETARY REFORM.

      A YEAR AGO ,THE RUMANIANS DECIDED TO STABILIZE THEIR
      CURRENCY .
      AS THE EXCHANGE RATE WAS ABOUT 30,000 LEI TO THE DOLLAR
      THEY DECIDED TO UPGRADE THE LEU .
      THEREFORE THEY MINTED THE NEW LEU, THE RON ,AT A RATE
      OF 3 RON TO THE DOLLAR.
      ALL THE PRICES WERE REDUCED BY 10,000 I.E. 4 ZEROS SHOULD
      BE CROSSED OUT AND EVERYTHING SHOULD BE FINE.
      SIMPLE , NOT?
      TODAY, A YEAR AFTER THE REFORM, THE CONFUSION IS GREAT:
      1. THE OLD LEU IS STILL LEGAL TENDER ALONGSIDE THE NEW RON.
      THE RON HAS THE SAME COLOR AND PICTURE AS THE OLD LEU
      BUT IS SMALLER IN SIZE.
      2. ALL PRICES IN SHOPS ARE STILL QUOTED IN OLD LEI.
      IN SOME CASES THERE IS ALSO A RON PRICE ON THE TAG.
      3. IF ASKED ABOUT A PRICE THE RUMANIANS WILL QOUTE THE
      PRICE IN OLD LEI OMITTING THE THOUSANDS.
      FOR INSTANCE IF A RAIL TICKET TO PIATRA IS 42 RON
      THE TICKET OFFICE WILL ASK FOR 420 MEANING 420,000 OLD LEI
      VERY SIMPLE FOR THE NATIVE BUT CONFUSING FOR THE
      OUTSIDER.
      A COKE WHICH IS 4 RON THEY REQUEST 40 AND SOMETIMES
      GET 40 RONS WHEREAS THEY MEANT 40,000 OLD LEI WHICH
      IS ONLY 4 RONS.
      4. COINS ? SMALL CHANGE ? OLD AND NEW ALL MIXED , BIG
      COINS SMALL COINS . BETTER LEAVE IT FOR THE EXPERT.
      UNDERSTAND , COMPADRE ?
      AND THIS IS A YEAR AFTER THE REFORM WAS INTRODUCED!
      MAYBE NEXT YEAR THEY WILL JOIN EUROPE AND DO
      AWAY WITH THE LEU.
      THE OLD AND THE NEW.

      HARDY




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