1. What is the official currency of Romania?

The official currency of Romania is the Romanian leu (RON).

2. Are there any restrictions on foreign currency transactions in Romania?

Yes, there are restrictions on certain foreign currency transactions in Romania. They vary depending on the purpose and amount of the transaction.

1) For personal transactions: Residents and non-residents can freely purchase and transfer foreign currency for current account transactions (such as travel, education, medical treatment). However, individuals must provide documentation supporting the purpose of the transaction.

2) For business transactions: Resident companies can transfer foreign currency to non-resident companies for trade purposes without any restrictions. Non-resident companies can also invest in Romania without any restrictions, but they may need to obtain prior approval from the National Bank of Romania for investments exceeding a certain amount.

3) For investment purposes: Non-residents can repatriate profits and dividends earned in Romania and dispose of their investment after obtaining approval from the National Bank of Romania.

4) For real estate transactions: Non-residents can purchase property in Romania but must obtain prior approval from the National Bank of Romania. There are also restrictions on transferring money out of Romania after selling property if it was bought after 2016.

5) Additional restrictions: The National Bank of Romania may impose temporary measures to protect the national currency in case of exceptional circumstances or significant imbalances in the balance of payments.

Overall, there are regulations in place to prevent money laundering and ensure stability in the financial market. Therefore, it is important to carefully review all regulations before engaging in any foreign currency transactions in Romania.

3. What is the current exchange rate for local currency to US dollar in Romania?

As of August 2021, the current exchange rate for Romanian Leu (RON) to US Dollar (USD) is 4.14 RON = 1 USD.

4. Is it better to use cash or credit cards for purchases in Romania?

It is generally better to use a credit card for purchases in Romania. This is because credit cards offer better security and protection against fraud, as well as additional benefits such as cashback or rewards points. However, it is always a good idea to carry some cash with you for smaller purchases or in case of emergencies. Some smaller businesses may only accept cash, so it’s always best to have both options available.

5. Do businesses in Romania typically accept US dollars or do they prefer local currency?

Local currency, Romanian Leu (RON), is the official currency in Romania and is widely accepted by businesses. It is recommended to have some local currency on hand for transactions. While some larger businesses may accept US dollars, it is not a common practice and may result in unfavorable exchange rates for the customer. It is best to exchange any USD into RON at a bank or currency exchange before making purchases in Romania.

6. Are there any hidden fees or charges when exchanging money in Romania?

It is always important to thoroughly research the current exchange rates and any associated fees or commissions before exchanging money in Romania. Typically, you may encounter fees or charges such as a currency conversion fee, ATM withdrawal fees, or transaction fees from your bank or the exchange bureau. It is best to check with both your bank and the exchange bureau beforehand to understand the potential costs involved. Additionally, it is important to be aware of scams or fake exchange bureaus that may charge higher fees than normal. Always double check the official rates and use legitimate sources for currency exchange.

7. Can I use ATMs from my home country bank in Romania to withdraw money?

It depends on your home country bank and its partnerships with banks in Romania. Some international banks have partnerships with Romanian banks, allowing their customers to withdraw money from ATMs without extra fees. It is best to check with your home country bank before traveling to Romania. Alternatively, you can also use international debit or credit cards at ATMs in Romania, but there may be additional foreign transaction fees.

8. Is it necessary to tip service workers and what is the customary amount in Romania?

It is customary to tip service workers in Romania, although it is not required. The usual range for tipping in Romania is between 5-10% of the total bill. In restaurants, a tip of 10% is generally expected if you were satisfied with the service. For other services such as taxi rides or haircuts, a small tip of around 5-10 lei would be appreciated.

9. Can I purchase traveler’s checks before traveling to Romania, and are they widely accepted?

Yes, you can purchase traveler’s checks before traveling to Romania. They are widely accepted in major cities and tourist areas, but may not be accepted in smaller towns and more rural areas. It is always best to have a mix of cash, credit cards, and traveler’s checks when traveling in Romania. Be sure to keep track of your traveler’s check numbers and keep them in a secure place. Many banks and exchange offices will also cash traveler’s checks for a fee.

10. Are there any restrictions or limits on bringing foreign currency into or out of Romania?

There are no restrictions or limits on bringing foreign currency into or out of Romania. It is only required to declare amounts exceeding 10,000 EUR (or equivalent in another currency) when entering or leaving the country.

11. Do major hotels and restaurants accept credit cards, and if so, which types are most commonly accepted?

Most major hotels and restaurants in the United States accept credit cards. The most commonly accepted types of credit cards are Visa, Mastercard, American Express, and Discover. However, it is always best to confirm with the specific hotel or restaurant before making a reservation or paying with a credit card.

12. Are there any unique features of the currency used in Romania, such as coins with different values or special designs?

Yes, there are unique features of the currency used in Romania. The currency used in Romania is called the Romanian leu (plural: lei). Some interesting features of the leu include:

1. Different designs for coins of different values: The Romanian leu has coins in denominations of 1, 5, 10, and 50 bani (subunits of the leu), as well as 1 leu. Each denomination has a different design on its obverse side, featuring important historical figures or landmarks.

2. Bi-metallic coins: In addition to regular metal coins, Romania also has bi-metallic coins with a gold-colored outer ring and a silver-colored inner circle. These are used for denominations of 10 and 50 bani.

3. Commemorative coins: From time to time, Romania releases special commemorative coins with unique designs and themes to mark significant events or pay tribute to important figures.

4. Polymer banknotes: While most countries use paper banknotes made from cotton or linen fibers, Romania uses polymer banknotes made from a durable plastic material. This makes them more resistant to wear and tear.

5. Security features: To prevent counterfeiting, Romanian banknotes have advanced security features such as holographic stripes and watermark images that can only be seen when held up to light.

6. Animal motifs on some banknotes: On certain denominations of Romanian banknotes (such as the100 lei note), the reverse side features an animal motif instead of a historical figure or monument.

7. Traditional patterns and symbols: Some banknote designs feature traditional Romanian patterns and symbols, such as traditional costumes or folk art motifs.

8. Currency code: The currency code for the Romanian leu is RON, which stands for “Romanian New Leu.” This was adopted when Romania underwent a currency reform in 2005 that swapped out old lei for new lei at a rate of 10,000 old lei to 1 new leu.

13. Is haggling acceptable when making purchases, especially in markets and smaller shops?

Haggling is not as common in Western cultures, but it is often expected and accepted in markets and smaller shops in many other parts of the world. It is important to be respectful and polite when haggling, as it is seen as a friendly negotiation rather than a confrontation. It is also helpful to have an idea of the item’s value and to start with a lower offer before slowly increasing your price.

14. Can I pay for goods and services with a mix of both local currency and US dollars?

Yes, some places may accept a mix of local currency and US dollars for payment. However, it is always best to check with the specific establishment in advance to confirm their accepted forms of payment.

15. What is the most convenient way to exchange money while traveling through different regions of Romania?

The most convenient way to exchange money while traveling through different regions of Romania is to use an ATM or a bank. Most major cities and tourist areas will have ATMs readily available, where you can withdraw local currency with your debit or credit card. Additionally, many banks offer currency exchange services for a small fee. You can also exchange money at airports, hotels, and exchange offices, but they may charge higher fees and offer less favorable exchange rates.

16. Are there alternative forms of payment in addition to cash and credit cards, such as mobile payments or digital wallets in Romania?

Yes, mobile payments and digital wallets are becoming increasingly popular in Romania. The following are some of the most commonly used options:

1. Mobile Payments:
– MOBILEpay: This is a mobile payment service offered by Orange Romania, available for both prepaid and postpaid customers. It allows users to make purchases by simply scanning a QR code or tapping their phone on an NFC-enabled terminal.
– MyVodafone App: Vodafone Romania’s app also offers mobile payment services where users can add credit cards to their account and make payments by scanning QR codes or through NFC.

2. Digital Wallets:
– Revolut: This is a digital banking alternative that enables users to make online purchases, pay bills, send money internationally and withdraw cash from ATMs using a virtual or physical card.
– Google Pay: Supported by multiple Romanian banks including BRD, ING Bank and BCR, Google Pay allows users to store their credit and debit card information on their phone and pay for purchases in-store or online.
– Apple Pay: Available for eligible Apple devices, Apple Pay allows users to store their debit and credit card information on their device and make contactless payments in-store or in-app.
– PayPal: One of the most widely used digital wallets globally, PayPal is also available as an option for online payments in Romania.

Apart from these options, some local banks also offer their own mobile payment apps, such as Banca Transilvania’s BT Pay or Raiffeisen Bank’s TWINT app.

17. Is tipping expected during taxi rides, at hotels, or at other specific locations like spas or salons in Romania?

Tipping is expected in Romania and it is customary to tip for certain services. However, the amount and frequency of tipping may depend on personal preference. Here are some guidelines for tipping in different situations:

– Taxi Rides: It is common to round up the fare to the nearest whole number or add about 10% of the fare as a tip.
– Hotels: Tipping is not expected at most hotels in Romania, but leaving a small amount for housekeeping (5-10 lei) is appreciated.
– Restaurants: A service charge of 10% may be included in the bill, but it is also common to leave an additional 5-10% as a tip if you are satisfied with the service.
– Spas/Salons: In upscale spas and salons, it is customary to leave a 10-15% tip for your service provider.
– Other Services (tour guides, hairdressers, etc.): It is appropriate to leave a small tip (5-10 lei) if you are happy with the service.

It is important to note that tipping is always at your discretion and should reflect your satisfaction with the quality of service provided. In general, tipping higher amounts in Romanian currency (lei) rather than foreign currency is preferred.

18. Are there certain stores where tourists can receive tax refunds on their purchases before leaving Romania?

Yes, tourists can receive tax refunds on their purchases at the airport before leaving Romania. There are also designated Global Blue and Premier Tax Free stores throughout the country where tourists can apply for a tax refund on their purchases.

19..How should I handle my leftover foreign currency when departing from Romania, including coins and smaller bills?

There are a few options for handling leftover foreign currency when departing from Romania:

1. Exchange it at the airport: Most international airports in Romania have currency exchange offices where you can convert your leftover currency into your home currency.

2. Use it for future travel: If you plan on returning to Romania or traveling to another country that uses the same currency, you can save your leftover money for your next trip.

3. Donate it: If you don’t plan on using the remaining foreign currency, you can consider donating it to a charity or organization that collects donations in foreign currencies.

4. Keep it as a souvenir: Some people like to keep foreign coins and bills as souvenirs from their travels. You can choose to keep some of the smaller bills and coins as a reminder of your trip.

5. Spend it at duty-free shops: If you are flying out of Romania, you can use your leftover foreign currency to make purchases at duty-free shops in the airport.

Note: It is not legal to take more than 10,000 euros per person in cash out of Romania without declaring it at customs, so be mindful of this if you have a large amount of leftover foreign currency.

20. Is there a limit on the amount of local currency I can withdraw from ATMs in Romania each day?

Yes, there is a limit on the amount of local currency you can withdraw from ATMs in Romania each day. This limit varies depending on your bank and account type, but it typically ranges from 1,000 to 2,000 Romanian lei per day. It is important to check with your bank to confirm the specific withdrawal limits for your account. Additionally, some ATMs may have a lower daily withdrawal limit than others. If you need to withdraw a larger amount of money, you may need to make multiple transactions or visit multiple ATMs.