Albanian lek

Albanian lek
Leku Shqiptar (Albanian)
ISO 4217 code	ALL
Central bank	Bank of Albania
Website	www.bankofalbania.org
Date of introduction	16 August 1965
Source	Decree Nr.4028 of the Presidium of the National Assembly, dated 14.7.1965 on the currency exchange
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

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.

Names

Introduced in 1926 by King Ahmet Zogu, the First Lek may have been named after Alexander the Great. In the front of 1 Lek coin was the portrait of Alexander the Great, and on the reverse was Alexander on his horse.^{[citation needed]} Another possibility is that is was named after the Albanian feudal prince, Lekë Dukagjini.^{[citation needed]} The name qindarkë comes from the Albanian qind, meaning one hundred. Qindarkë thus is similar in formation to centime, cent, centesimo, stotinka, eurocent, etc.

Alexander the Great on the first Albanian 1 LEK.

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. The obverse of the franga coins depict Amet Zogu. In 1935, bronze 1 and 2 qindar were issued, equal in value to the 5 and 10 qindar leku. This coin series depicted distinct neoclassical motifs.

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 and bear the portrait of Italian King Victor Emmanuel III on the obverse and the Italian eagle and fasces on the reverse.

In 1947, shortly after the communist party took power, older coins were withdrawn from circulation and a new coinage was introduced, consisting of zinc ½, 1, 2 and 5 lekë.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. All coins depict the socialist state emblem.

In 1969, a second series of aluminum 5, 10, 20, 50 qindar and 1 lek coins was released commemorating the 1944 liberation from fascism. The three smallest denominations remained similar in design to the 1964 series but depicted "1944-1969" on the obverse. The 50 qindarka and lek coins depicted patriotic and military images.

In 1988, a third redesign of aluminum 5, 10, 20, 50 qindarka and 1 lek coins were released. The 50 qindarka and 1 lek coins were problematically identical in size, weight, and appearance so aluminum-bronze 1 lek coins with the inscription "Republica Popullore Socialiste Shqiperise" were released later that year for better identification. In 1989, a cupro nickel 2 leke coin was introduced. All three of these coin series remained in circulation during and shortly after the 1991 revolution.

Third 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 10, and 20 leke are struck in brass, while the 5 and 50 leke are struck in cupro nickel and the 1 leke is bronze.

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.

• 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

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
These images are to scale at 0.7 pixels per millimetre.
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	159 × 77 mm	Purple	Oil refinery	Oil wells, steelworkers, steelworks	1991
		500 lekë	155 × 75 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.

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.

Fourth lek

On July 11, 1997, a new series of banknotes dated 1996 was introduced. 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.

2007 Series
Image		Value	Dimensions	Main Colour	Description		Date of
Obverse	Reverse				Obverse	Reverse	first printing	issue	withdrawal	lapse
		2000 Lekë	155 × 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.

Current ALL exchange rates
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See also

• Economy of Albania

References

• Krause, Chester L., and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501. 
• Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9. 

External links

• All Albanian coins and additional information
• Coin Types from Albania Lists, pictures, and values of Albanian coin types
• All series of Banknotes, Archived June 29, 2011 at the Wayback Machine
• Article on the history of the currency in Albanian