In General

If you are coming to Cluj armed with dollars, euros, or pounds you are going to live very comfortably.  Cluj is considered one of the most expensive cities in Romania, if not the most expensive, but it is still a bargain for those coming from the West.  Inflation is going down recently and the lei has improved against the euro and the dollar quite a bit, but large purchases such as renting an apartment are still listed in euros, because of the fear of the volatility of the lei.  Prices have also been rising on certain goods like cigarettes and alcohol because of entry requirements to the European Union.  Property is not as cheap as it was right after the Revolution when apartments were practically being handed out for free.  Still, you will do quite nicely if you are coming from countries with a strong currency, and you will be getting a bargain for the foreseeable future.

Re-evaluation of the Lei

You probably won’t have to worry about this very much, but here is the basic deal.  The Romanian lei is dropping four zeros, and being reissued as different bills.  December 31, 2006 is the last time that these bills will be accepted.  Most of the ATMs dispense new lei, but that is not always the case, so ask around about this issue if you are traveling to Romania around the deadline.  I have provided a link to a very informative site about Romanian currency here. There you will find more information than you probably want to know about the lei, but I like history and perhaps you do too.  If you are traveling to Romania before 2007 you will have to deal with the differing types of bills floating around.  This isn’t as difficult as you might think since they are designed the exact same.  For instance, a 500,000 lei bill looks the same as a new 50 lei bill, except the 50 lei bill is smaller.  Good luck.

Changing Money

Don’t do it at the airport.  Airport moneychangers should be driven from the temple with whips.  You will lose 10-20% of your money by making these transactions.  You should also probably spend or exchange your money before leaving Romania, because many airport moneychangers don’t even accept the lei.  I had to go to a post office in London and wait thirty minutes for a man to find a dusty volume that contained pictures of the Romanian lei, so that he could change my bills into pounds. 

ATMs and Traveler’s Checks

You will run into a Bank of Transilvania [sic] ATM on almost every block, so there is really no need to list the locations.  ATMs are so prevalent you will have no problem finding one once you get to Cluj.  There are also several other banks that have ATMs throughout the city.

Check with your bank before you leave about their international transaction fees.  I am charged five dollars from Bank of America and another three dollars from the Romanian bank every time I make a transaction.  That includes asking for more money than the ATM has, and getting an insufficient funds report.  You can safely take out about 1000 new lei (approximately $350) at one time, and you will probably get your money.  Anything over that is likely to come back as an insufficient funds report and you are out eight dollars.  A friend of mine is only charged three dollars from his bank and three in Romania, so it varies from bank to bank.  If you are staying a long time, these transaction fees can really eat into your funds.

Do not bring traveler’s checks.  The situation might have improved, but three years ago, I was with a friend who brought traveler's checks and he could not use them anywhere.  He went to several banks and they could not help him.  I can’t recall if he ever succeeded in using them, but I don’t think so.  Needless to say, they will not make your life more convenient in Romania.

Change

Try to carry small bills around with you.  If you are buying a beer that costs a dollar and you hand the bartender a 500,000 lei bill, he has to find 470,000 lei worth of change for you.  This will irritate servers, kiosk operators, and bartenders.  The best thing to do is use your big bills at the grocery store, and keep the change for little transactions. 

It is also possible that a grocer or other merchant will not have your exact change at hand.  You see the problem is that an old 500 lei piece is basically worthless; it is one-sixtieth of a dollar.  (This problem is being fixed by the re-evaluation of the lei.) So if the merchant does not have a 500 or 1000 lei piece at hand, he might just offer you a piece of gum or round up the total.  Don’t worry about it.  The gum you will be offered is worth more than the old coin, which was often minted with aluminum. 

Black Market Moneychangers

Three years ago, they could still be seen out on Piata Unirii looking for tourists, and offering lower exchange rates against the dollar and euro, but I haven’t seen them in the last year.  Don’t bother with this.  First, the bills they are trading are often so used and tattered no one will accept them; that is if they are not simply counterfeit.  Second, you don’t know the math well enough to get a good deal. If they were giving you a good deal, they wouldn’t be making any money.  And last of course, it is illegal.  Shy away from it.