Albanian lek

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For other uses, see Lek (disambiguation).

Albanian lek
lek shqiptar (Albanian)

1000 lekë of 1996 with Pjetër Bogdani

ISO 4217 Code ALL

User(s) Albania

Inflation 2.8%

Source The World Factbook, 2006 est.

Subunit

1/100 qindarkë

Plural lekë

qindarkë qindarka

Coins 1, 5, 10, 20, 50, 100 lekë

Banknotes 100, 200, 500, 1000, 5000 lekë

Central bank

Bank of Albania

Website www.bankofalbania.org

The lek (plural lekë) is the currency of Albania (ISO 4217 currency code: ALL). Historically it was divided into 100 qindarka.

1 History
2 Names
3 Coins
4 Banknotes
5 External links

[edit] History

Until 1912, Albania used the Ottoman currency. Following independence, a period of political chaos delayed the introduction of a national currency until 1926. During this period, various foreign currencies circulated, in particular those of the Latin Monetary Union. Some crude paper money was issued during this period [1]. Denominations included para and grush (equal to the subunits of the Turkish lira), Italian lira, franga argjent ("silver francs"), francs, qint, qindtar and skender.

The lek was introduced in 1926. At first, there were four denominations in circulation. The lek was worth 100 qindar leku whilst the frang ar (also frank ar) was worth 100 qindar ar or five lekë. The lek was equivalent to the Italian lira.

When Italy occupied Albania in 1938, the lek was reduced in value to 0.8 Italian lira. Coins were issued denominated solely in lek during the occupation.

Reverse of 50 lekë, 1976

After the Second World War, only the lek and qindarkë (equal to the qindar leku) were issued. Between 1946 and 1948, the lek was tied at par to the Yugoslav dinar. Following this, the lek was tied to the Soviet ruble at a rate of 12.5 lek = 1 ruble. This rate was maintained when the ruble was revalued in 1961, leading to the introduction of a new lek worth ten old lek.

In 1992, a new "lek valuta" was introduced at a value of fifty lek. Two denominations of bank notes were issued (10 and 50 lek valuta, 1 lek valuta notes were printed but not issued). However, the lek valuta did not replace the lek and no further issues were made in lek valuta.

[edit] Names

The name lek derives from the popular abbreviation of Alexander the Great (Leka i Madh) and was introduced during the reign of Ahmet Zogu. The name qindarkë comes from the Albanian qind (hundred). Qindarkë thus carries the same meaning as centime, cent, centesimo, eurocent etc.

[edit] Coins

Current coins.

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

1 lek: Pelican
5 lekë: The eagle from the Flag of Albania
10 lekë: Castle of Berat city
20 lekë: Liburnian ship
50 lekë: Portrait of the Illyrian King Gentius
100 lekë: Portrait of the Illyrian Queen Teuta

[edit] Banknotes

1947 series
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
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
1964 and 1976 series
Value	Colour	Obverse	Reverse
1 lek	Green	Peasant couple with wheat	Castle of Shkodër
3 lekë	Brown	Woman carrying basket of fruit	Sea/lakeside town (?)
5 lekë	Dark blue	Steam train and truck	Ship
10 lekë	Green	Woman working in a texile mill	Bureaucrats and peasants socializing outside the Palace of Culture, Naim Frashëri
25 lekë	Dark blue	Woman with wheat, combine harvesting	Mechanized plowing
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 oilworker, gesturing grandly, steelworks and oil wells in background
Undated issue
Value	Colour	Obverse	Reverse
100 lekë	Blue	Steelworker pouring an ingot, steelworks in background	Mountains and oil wells
1991 series
Value	Colour	Obverse	Reverse
100 lekë	Purple	Oil refinery	Oil wells, steelworkers, steelworks
1991-1996 series
Value	Colour	Obverse	Reverse
100 lekë	Purple	Luftetari Kombetar	Eagle and mountains
200 lekë	Red	Ismail Qemali	Albanian independence
500 lekë (1991)	Blue	Girl with sunflowers	Mountains
500 lekë (1992)	Dark blue	Naim Frashëri	Poetry, mountains
1,000 lekë	Green	Skanderbeg	Kruja castle
1996 series
Value	Colour	Obverse	Reverse
100 lekë	Purple	Theofan Stilian Noli	First parliament
200 lekë	Orange	Naim Frashëri	Birthplace of Frashëri
500 lekë	Dark blue	Ismail Qemali	Vlorë independence building
1,000 lekë	Green	Pjetër Bogdani	Church of Vau
5,000 lekë	Gold	Skanderbeg	Kruja castle

Current ALL exchange rates

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[edit] External links

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