Albanian lek

Albanian lek
Leku Shqiptar (Albanian)
ISO 4217 code ALL
User(s) Albania
Inflation 2.1%
Source The World Factbook, 2009 est.
Subunit
1/100 qindarkë
Symbol Lek
qindarkë q
Plural Lekë
qindarkë qindarka
Coins
Freq. used 5, 10, 20, 50, 100 lekë
Rarely used 1 lek
Banknotes
Freq. used 200, 500, 1000 and 2000 lekë
Rarely used 5000 lekë
Central bank Bank of Albania
Website www.bankofalbania.org

The lek (Albanian: Leku Shqiptar; plural lekë) (sign: L; code: ALL) is the official currency of Albania. It is subdivided into 100 qindarka (singular qindarkë), although qindarka are no longer issued.

Contents

Names

Introduced in 1926 by King Ahmet Zogu, the First Lek was named after Alexander the Great. In the front of 1 Lek was the portrait of Alexander the Great and reverse was Alexander on his horse. An other option was that is was named after the Albanian feudal Lekë Dukagjini. The name qindarkë comes from the Albanian qind, meaning one hundred. Qindarkë thus carries the same meaning as centime, cent, centesimo, stotinka, eurocent, etc.

Coins

Main article: Coins of the Albanian lek

First lek

In 1926, bronze coins were introduced in denominations of 5 and 10 qindar leku, together with nickel ¼, ½ and 1 lek, and silver 1, 2 and 5 franga ar. In 1935, bronze 1 and 2 qindar were issued, equal in value to the 5 and 10 qindar leku.

After the Italian occupation, stainless-steel 0.20, 0.50, 1 and 2 lek and silver 5 and 10 lek were introduced, with the silver coins only issued that year but aluminium-bronze 0.05 and 0.10 lek introduced in 1940. These coins were issued until 1941.

In 1947, a new coinage was introduced, consisting of zinc ½, 1, 2 and 5 lekë. This coinage was again minted in 1957 and used until the currency reform of 1965.

Second lek

In 1965, aluminium coins (dated 1964) were introduced in denominations of 5, 10, 20 and 50 qindar and 1 lek. In 1995 and 1996, a new coinage was introduced in denominations of 1, 5, 10, 20 and 50 lekë, with a bimetallic 100 lekë added in 2000.

The obverses have various designs with the inscription "Republika e Shqipërisë" (Republic of Albania) and the year of production. All have the value with branches on the reverse.

Special issues

In 2001, 100 and 200 Leke were issued under the theme of Albania's integration into the EU and 50, 100, and 200 Leke under the 500th anniversary of the Statue of David. In 2002, 50 Leke and 100 Leke were issued for the 90th Anniversary of the Independence of Albania and 20 Leke under the Albanian Antiquity theme. In 2003, 50 Leke was issued in memory of the 100th anniversary of the death of Jeronim De Rada. In 2004, 50 Leke was issued under the Albanian Antiquty theme depicting traditional costumes of Albania and the ancient Dea. In 2005, 50 Leke were issued for the 85th anniversary of the proclamation of Tirana as capital and the theme of traditional costumes of Albania.

Banknotes

First lek

In 1926, the National Bank of Albania (Banka Kombëtare e Shqipnis) introduced notes in denominations of 1, 5, 20 and 100 franka ari. In 1939, notes were issued denominated as 5 and 20 franga. These were followed in 1944 with notes for 2, 5 and 10 lek and 100 franga.

In 1945, the People's Bank of Albania (Banka e Shtetit Shqiptar) issued overprints on National Bank notes for 10 lek, 20 and 100 franga. Regular notes were also issued in 1945 in denominations of 1, 5, 20, 100 and 500 franga. In 1947, the lek was adopted as the main denominations, with notes issued for 10, 50, 100, 500 and 1000 lekë.

1947 series
Obverse Reverse Value Colour Obverse Reverse
10 lekë Peach Partisan Geometric designs
50 lekë Dark green Partisan Geometric designs
100 lekë Dark blue Partisan Geometric designs
500 lekë Brown Partisan Geometric designs
1,000 lekë Dark blue/multicoloured Partisan Geometric designs
1949 and 1957 series
Obverse Reverse Value Colour Obverse Reverse
10 lekë Red Coat of arms Coat of arms
50 lekë Dark blue Skanderbeg Partisan
100 lekë Green Partisan Geometric designs
500 lekë Orange/blue Wheat harvesting, Skanderbeg Peasant woman with wheat
1,000 lekë Purple Skanderbeg, oil wells A miner

Second lek

In 1965, notes (dated 1964) were introduced by the Banka e Shtetit Shqiptar in denominations of 1, 3, 5, 10, 25, 50 and 100 lekë. A second series of notes was issued in 1976 when the country changed its name to the People's Socialist Republic.

1964 and 1976 series
Obverse Reverse Value Colour Obverse Reverse
1 lek Green Peasant couple with wheat Castle of Shkodër
3 lekë Brown Woman carrying basket of fruit Vlora
5 lekë Dark blue Steam train and truck Ship
10 lekë Green Woman working in a textile mill Bureaucrats and peasants socializing outside the Palace of Culture, Naim Frashëri
25 lekë Dark blue Woman with wheat, combine harvesting Mechanized ploughing
50 lekë Red Army on parade, Skanderbeg Rifle, pickaxe, apartment block under construction
100 lekë Scarlet Man showing his son a new hydroelectric dam Steelworker with oil worker, gesturing grandly, steelworks and oil wells in background
Undated issue
Obverse Reverse Value Colour Obverse Reverse
100 lekë Blue Steelworker pouring an ingot, steelworks in background Mountains and oil wells

Third lek

500 lekë notes were introduced on June 28, 1991, followed by denominations of 200 and 1000 lekë on October 1, 1992.

1991 Series
Image Value Dimensions Main Colour Description Date of
Obverse Reverse Obverse Reverse first printing issue withdrawal lapse
100 lekë Purple Oil refinery Oil wells, steelworkers, steelworks 1991
500 lekë 159 × 79 mm Light blue Girl with sunflowers Mountains 1991 28 June 1991 30 June 2010 31 December 2012
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.
1992 Series
Image Value Dimensions Main Colour Description Date of
Obverse Reverse Obverse Reverse first printing issue withdrawal lapse
100 lekë 154 × 72 mm Violet National fighter Eagle and mountains 1994 25 April 1994 31 December 2008 31 December 2010
200 lekë 162 × 78 mm Brown Ismail Qemali Coat of arms of Albania, declaration of independence of Albania 1992 1 October 1992
500 lekë 170 × 78 mm Blue Naim Frashëri Poetry of Frashëri 30 June 2010 31 December 2012
1000 lekë 178 × 78 mm Green Skanderbeg Krujë Castle 31 March 2011 31 December 2013
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.

Fourth lek

On July 11, 1997, a new series of banknotes dated 1996 was introduced [1]. On the last day of 2008 the 100 Bills were demonetized.

1996 Series
Image Value Dimensions Main Colour Description Date of
Obverse Reverse Obverse Reverse first printing issue withdrawal lapse
100 Lekë 130 × 66 mm Purple Fan S. Noli First Albanian Parliament building 1996 11 July 1997 31 December 2008 31 December 2010
200 Lekë 138 × 69 mm Brown Naim Frashëri Birthplace of Frashëri Current
500 Lekë 145 × 68 mm Blue Ismail Qemali Vlorë independence building
1000 Lekë 151 × 72 mm Green Pjetër Bogdani Church of Vau
5000 Lekë 160 × 72 mm Gold Skanderbeg Krujë Castle 1 January 1999
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.
2007 Series
Image Value Dimensions Main Colour Description Date of
Obverse Reverse Obverse Reverse first printing issue withdrawal lapse
2000 Lekë 160 × 72 mm Violet and purple King Gentius Butrint Amphitheatre 2007 29 December 2008 Current
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.
Current ALL exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
From OzForex: AUD CAD CHF EUR GBP HKD JPY USD
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD

See also

References

  1. ^ Linzmayer, Owen (2011). "Albania". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. http://www.banknotebook.com. Retrieved 2011-08-21. 

External links

Coins
Banknotes
Defunct
History
Franga 10 - 20 - 50 - 100 (Coin)/(Banknote) - Korçë frange - Korçë Skënder
Institutions
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