Romania

Romania is a state in south-eastern Europe formed in 1859 by the union of the principalities of Wallachia and Moldavia. It gained independence from the Ottoman Empire in 1878, was a kingdom from 1881 to 1947, then a people's and socialist republic until 1989, and has been a parliamentary republic since.

History

The first king was Carol I of Hohenzollern-Sigmaringen (prince 1866, king 1881–1914), followed by Ferdinand I (1914–1927), Michael I (1927–1930, 1940–1947) and Carol II (1930–1940). After the First World War the country gained Transylvania, Bukovina and Bessarabia (Greater Romania); after the Second it lost Bessarabia and northern Bukovina.

Currency and coins

The currency is the leu (plural lei, 1 leu = 100 bani), introduced in 1867 on the model of the Latin Monetary Union: silver 1, 2 and 5 lei (5 lei = 25 g, .900) and gold 20 lei (6.45 g, .900). Royal issues of 1881–1947 bear the portraits of Carol I, Ferdinand, Michael and Carol II; after 1947 currency reforms followed in 1947, 1952 and 2005 (1 new leu = 10,000 old). Coins were struck at the Bucharest mint, with some orders placed in Brussels, Hamburg and London.

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