Lek (ALL) Albania (ALL) exchange rate
WE SELL RATE HISTORY OF Lek (ALL) Albania
WE BUY RATE HISTORY OF Lek (ALL) Albania
CREATE YOUR OWN ALERT
The official currency of Albania is the Lek, which was first introduced in 1926. Since then, it has gone through several monetary reforms and design changes.
Before the introduction of the Lek, Albania used a variety of foreign currencies, such as the French franc and the Greek drachma. In 1925, the Albanian government decided to establish its own national currency to promote financial and economic independence for the country.
The Albanian Lek was officially introduced on February 27, 1926, with an exchange rate of 1 Lek = 0.2903 grams of gold. During World War II, the currency suffered from severe inflation due to the German and then Italian occupation of Albania.
After the war, Albania went through several monetary reforms. In 1947, the "new Lek" was introduced to replace the old Lek, and an exchange rate of 1 new Lek = 100 old Lekes was established. In 1965, the "Socialist Lek" was introduced to replace the new Lek, and an exchange rate of 1 Socialist Lek = 10 new Lekes was established.
In 1992, after the fall of the communist regime, the "Democratic Lek" was introduced to replace the Socialist Lek. Since then, the Lek has maintained its stability and has become a relatively stable currency in the region.
Design and features of the Albanian Lek
The current Albanian Lek has several denominations, ranging from 1 Lek to 10,000 Lekes. Coins are available in denominations of 1, 5, 10, 20, and 50 Lekes, while banknotes are available in denominations of 200, 500, 1000, 2000, 5000, and 10,000 Lekes.
The design of Albanian Lek banknotes features prominent historical and cultural figures of Albania, as well as natural landscapes and architectural monuments of the country. For example, the 200 Lekes banknote features the figure of Naim Frashëri, an Albanian poet and writer, while the 10,000 Lekes banknote features the Castle of Berat, an important tourist site in Albania.
As for coins, all feature the coat of arms of Albania on one side, while the other side features different motifs. For example, the 1 Lek coin features the portrait of Ismail Qemali, the first prime minister of Albania and founder of the Republic of Albania in 1912.
In summary, the Albanian Lek is the official currency of Albania and has gone through several monetary reforms and design changes throughout its history. With its stability and attractive designs, the Albanian Lek remains an important part of the financial and economic identity of the country.
