However, the conquest of the country by the military of some of the continental powers led to the adoption of gold franc as currency. The lek was established as the major denomination in 1947, with banknotes in the denominations of 10, 50, 100, 500, and 1000 leke. In 1997, new series of banknotes were introduced in the denominations of 100, 200, 500, 100, 200, and 500 leke. In 1939, notes were issued denominated as 5 and 20 franga. In 2003, 50 lekë was issued in memory of the 100th anniversary of the death of Jeronim De Rada. Which countries use the Albanian Lek? silver 5, and 10 lek were introduced, with the silver coins only issued that year. All maps, graphics, flags, photos and original descriptions © 2020 worldatlas.com, European Countries That Don't Use The Euro, Top Cotton Producing Countries In The World. By John Misachi on August 1 2017 in Economics. [4] Alexander's portrait appeared on the obverse of the 1 lek coin, while the reverse showed him on his horse. The lek was introduced as the first Albanian currency in February 1926. The lek has been in circulation in Albania since February 1926. These coins were issued until 1941 and bear the portrait of Italian King Victor Emmanuel III on the obverse and the Albanian eagle with fasces on the reverse. In 1988, a third redesign of aluminium 5, 10, 20, 50 qindarka and 1 lek coins was released. The lek is subdivided into 100 qindarka, and its plural form is often written as "lekë." Our currency rankings show that the most popular Albania Lek exchange rate is the EUR to ALL rate . All coins show the socialist state emblem. The 50 qindarka and 1 lek coins were problematically identical in size, weight, and appearance, so aluminium-bronze 1 lek coins with the inscription "Republika Popullore Socialiste e Shqipërisë" were released later that year for better identification. When the Albanian lek was introduced, the first coins were made of bronze in denominations of 5 and 10 qindar, whereas nickel was used for 25 and 50 qindar, as well as 1 lek, and silver denominations were used for 1, 2, and 5 franga ar. Aluminum coins in the denominations of 5, 10, 20, and 50 qindar all depicting socialist state emblems were introduced in 1965. Below, you'll find Albanian Lek rates and a currency converter. These coins depict the mint marks "R", "V" or "L", indicating Rome, Vienna or London. Albania, prior to the introduction of the lek in 1926, had no national currency. [7], Notes dated 1996 were printed by De La Rue in the United Kingdom. Bank of Albania The Albanian Lek is the currency of Albania. These were followed in 1944 with notes for 2, 5 and 10 lekë and 100 franga. In 1992, lek valuta, which was equal to 50 lekë, was introduced. Our currency rankings show that the most popular Albania Lek exchange rate is the EUR to ALL rate. In 2002, 50 lekë and 100 lekë were issued for the 90th Anniversary of the Independence of Albania and 20 lekë under the Albanian Antiquity theme. Although there is considerable circulation of the euro in Albania, the Albanian lek still dominates the country's financial sector, and is widely accepted in the country for most payments and other forms of transactions.
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