BUCHAREST, June 11 (Xinhua) -- The self-styled King of Roma Everywhere Dorin Cioaba Wednesday stated in Sibiu, central Romania, that Roma in 37 countries will have their own virtual currency, the "lov," that will, at first, be equivalent to one euro.
"We will start off with one lov to one euro parity and we'll see after that if it will increase or decrease," Dorin Cioaba told the official Agerpres news agency in an interview.
The most expensive coin for the Roma around the world will remain, however, the gold dinar in the Roma women's carcanet. A gold dinar is bought in Romania for about 500 euro, according to Dorin Cioaba, who lives in the central Romanian town of Sibiu.
Recently, in Sibiu, at the extraordinary congress of the International Roma Union (IRU), King Cioaba was elected President of the Roma. He has the right to convoke the Roma Government, led by a prime minister in Macedonia, and the Roma Parliament, led by a president from the Republic of Moldova.
"We have launched a virtual currency for the future. The IRU has moved to a different course, that of international recognition. If we have a new government, we must have a new coin," he explained.
Cioaba said that the new virtual currency will enter circulation after the Roma will be granted recognition as a "stateless nation."
The "lov" is derived from "lovele," which means "money" in the Roma language.
Romania is said to have the biggest Roma populations in Europe. According to the 2011 census, they number some 621,500 people or 3.3 percent of the total population, being the second-largest ethnic minority in Romania after the Hungarians.
Yet, the unofficial number of Roma people in Romania is said to be as much as 2,000,000, as documenting Romania's Roma population remains difficult, many Roma people do not declare their ethnicity in the census and do not have an identity card or birth certificate.