100 Lei

Romania's interwar period produced some of the most technically ambitious domestic printing the country had attempted — the Banca Națională had established its own printing works in Bucharest precisely to reduce dependence on foreign contractors after the disruptions of the First World War. This note, with engraving credited to Léon Henri Ruffe and design to Georges Duval, reflects the French technical influence that shaped the facility's early output; both men were associated with the Paris school of intaglio engraving, their involvement here likely tied to the transfer of skills and plate techniques rather than foreign production.

The 1929 issue came during a period of relative monetary stabilization following Romania's 1929 currency reform, which fixed the leu to gold at a dramatically reduced rate from its pre-war parity — a formal acknowledgment of wartime and postwar inflation that had gutted the currency's value.