Romania banknotes 500 Lei banknote of 1936, King Carol II.
Obverse: Portrait of King Carol II of Romania.
Reverse: General view of Peleş Castle.
Peleş Castle is a Neo-Renaissance castle in the Carpathian Mountains, near Sinaia, in Prahova County, Romania, on an existing medieval route linking Transylvania and Wallachia.
Carol II of Romania
Carol II (15 October 1893 – 4 April 1953) reigned as King of Romania from 8 June 1930 until 6 September 1940. Eldest son of Ferdinand, King of Romania, and his wife, Queen Marie, a daughter of Prince Alfred, Duke of Edinburgh, the second eldest son of Queen Victoria. He was the first of the Romanian royal family who was baptized in the Orthodox rite.
Romanian leu
The leu (Romanian pronunciation: [lew], plural lei [lej]; ISO 4217 code RON; numeric code 946) is the currency of Romania. It is subdivided into 100 bani (singular: ban). The name of the currency means "lion".
1867-1947
In 1860, the Domnitor Alexandru Ioan Cuza attempted to create a national românul ("The Romanian") and the romanat, however the project was not approved by the Ottoman Empire.
On April 22, 1867, a bimetallic currency was adopted, with the leu equal to 5 grams of 83.5% silver or 0.29032 grams of gold. The first leu coin was minted in Romania in 1870.
Before 1878 the silver Russian ruble was valued so highly as to drive the native coins out of circulation. Consequently, in 1889, Romania unilaterally joined the Latin Monetary Union and adopted a gold standard. Silver coins were legal tender only up to 50 lei. All taxes and customs dues were to be paid in gold and, owing to the small quantities issued from the Romanian mint, foreign gold coins were current, especially French 20-franc pieces (equal at par to 20 lei), Turkish gold lire (22.70), old Russian imperials (20.60) and British sovereigns (25.22).
Romania left the gold standard in 1914 and the leu's value fell. The exchange rate was pegged at 167.20 lei = 1 U.S. Dollar on February 7, 1929, 135.95 lei on November 5, 1936, 204.29 lei on May 18, 1940, and 187.48 Lei on March 31, 1941. During Romania's World War II alliance with Nazi Germany, the leu was pegged to the Reichsmark at a rate of 49.50 lei = 1 Reichsmark, falling to 59.5 lei in April 1941. During Soviet occupation, the exchange rate was 1 ruble = 100 lei. After the war, the value of the currency fell dramatically and the National Bank issued the banknote with the highest denomination in its history: the 5 million lei banknote.