500 lei

Romania's post-communist currency reform culminated in the July 2005 redenomination, when the leu was rebased at 10,000 old lei to 1 new leu. This 500 lei note entered circulation as part of that new series — making it the highest denomination issued at redenomination, equivalent to five million of the old lei that Romanians had carried in thick wads through the 1990s inflation years.

The paper issue is notable precisely because the broader series had already committed to polymer for lower denominations, printed by Note Printing Australia. The 500 lei retained paper substrate, a deliberate choice for the high-denomination note, though the series later transitioned fully toward polymer.