Foreign trade was considered part of a different economic circuit than the domestic one and was given greater importance.
In 1987, hyperinflation began to appear and the National Bank wanted to issue higher denomination banknotes but Ceausescu refused.
During the hyperinflation, these notes began to lose total value and after 1997, all socialist banknotes were completely withdrawn.
These banknotes were released due to the fact that Romania did not change its socialist coat of arms until the Constitution of 1992 was introduced in September 1992.
[2] Each banknote also features a small transparent window, in the shape of a distinctive item characterising the activity of the pictured personality, a heraldic symbol for Nicolae Iorga, a music key for George Enescu, painting implements for Nicolae Grigorescu, the Military Virtue Medal for Ecaterina Teodoroiu, an eagle's head for flying pioneer Aurel Vlaicu, theater masks for Ion Luca Caragiale, a pen point for Lucian Blaga and an hourglass symbolising poetry and time for Mihai Eminescu.
Note that the 20, and 500 lei banknotes see limited usage since they are not dispensed by automated teller machines.
On 21 December 2017, the National Bank of Romania announced that beginning with 1 January 2018, all the banknotes and coins will feature the new version of the coat of arms.
On 31 July 2019, the National Bank of Romania announced that it planned to issue the 20 lei banknote, which will feature Ecaterina Teodoroiu, in 2020.
[4] In November 2021 the National Bank of Romania announced that the 20 lei banknote bearing Ecaterina Teodoroiu's portrait would be issued on 1 December 2021.