Craiova: The Romanian City That Once Minted Its Own Currency

Countries & Cities · Published 29 September 2026 Swipe more like this →

In short: Long before it became an industrial powerhouse, this southwestern Romanian city was the seat of the powerful Craiovești boyar dynasty. These regional rulers held such immense influence that they minted their own coins, leaving a linguistic legacy that survives in the modern Romanian word for money.

Craiova, the capital of Dolj County, sits on the banks of the Jiu River in the heart of Oltenia. Its history is deeply tied to the Craiovești family, the highest-ranking boyars of the Wallachian state. By the late 16th century, this dynasty controlled roughly 100 villages, wielding enough political autonomy to effectively dictate which hospodars could rule the country. Their influence was so profound that their personal effigies appeared on the coins they minted, establishing the etymological origin of the Romanian word 'ban,' which remains the term for the country's currency today.

The city's development has been marked by both resilience and rapid transformation. Despite suffering through a 1790 earthquake, a 1795 plague, and a devastating 1802 fire caused by a Turkish assault, Craiova consistently rebounded as a vital commercial hub. By the 19th century, it had become a center for handicraft trades and exports, shipping wheat, leather, and furs to the Austrian and Ottoman Empires. Its technological ambition was evident by 1896, when it became the first city in Romania to be powered by electricity generated from internal combustion engines.

In the 20th century, the city shifted from a regional trading center to a heavy industrial giant. Following the 1960s, it became a hub for aerospace, automotive, and chemical manufacturing. While the 1989 Revolution necessitated a difficult transition to a free-market economy, industry remains the backbone of the city, accounting for approximately 70% of its total output. Today, Craiova balances this industrial heritage with a rich cultural landscape, housing the Art Museum—which features early sculptures by Constantin Brâncuși—and the Nicolae Romanescu Park, a sprawling green space whose design won a gold medal at the 1900 World Fair.

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