Currency Rates for Albanian Lek
Currency Information on Albanian Lek - ALL- Albanian Lek - L. The foreign exchange rates for Albania also known as the ISO code ALL or the Albanian Lek currency and as a symbol L
Now there are only Lek coins available; 1, 3, 5, 10, 20 and 50 Lek, as well as banknotes, which are available in denominations of 1, 3, 5, 10, 20, 50 and 100 Lek.
To this effect, Alexander the Great appears in portrait form on the back of the 1 lek coin.
Subdivided into 100 qindarka, which are no longer issued, the new Lek was introduced in 1965 when coins to the value of 5, 10, 20 and 50 qindarka were issued. Send Money Transfer to Albania.
The Albanian Lek was fast introduced in February 1926 as Albanian currency, but unfortunately, before then, Albania was without a currency, it adhered to a gold standard for fixation of its commercial values.
Before World War 1, the Ottoman Turkish Piastre fully circulated, but following the occupation of the countrys military by various continental powers, the gold franc was adopted as being the monetary unit.
In the year 1923, the Italian paper did circulate at, Greek drachma at Kortcha, Durazzo, Scutari, Argyro-Castro, and Valona, at the varied values according to the prevailing exchange rates and according to locality as compared with the gold.
Albanian lek Etymology
The Albanian Lek was named after Alexander the Great and whose name was and is often shortened to be â€Lekaâ€™ in Albanian. Alexander the Greats portrait did appear on the obverse of 1 lek coin, while the reverse of it showed him when he was on his horse.
Between the year 1926 and the year 1939, the name Franga referred to the Albanian gold currency which was worth 5 Albanian Leke for the countryâ€™s use in the international transactions. Similar alternate name â€Belgaâ€™, was put into use for the units of 5 Belgian francs.
Banknotes of the Currency
The National Bank of Albania did the introduction of notes in the denominations of 1, 5, 20 and even100 Franka Ari. The year 1939, the notes that were given denominated as 5 and 20 Franga. In 1944, these were followed by notes in the denominations of 2, 5 and the 10 Lek and even the 100 Franga.
In 1945, the Banka e Shtetit Shqiptar, which is the People's Bank of Albania carried out the issuance of overprints on the National Bank notes for the 10 Lek, 20 leks and of course the 100 Franga. Similarly, regular notes were issued in the year 1945, denominating as 1, 5, 20, 100 and 500 Franga.
In 1947, the Albanian lek was adopted as the major denominations, with the notes issued for the 10, 100, 500, 50, and 1000 Leke
In 1965, the notes that were dated 1964 were introduced by the People's Bank of Albania in the denominations of 1, 5, 3, 50, 10, 25and 100 Leke. Moreover, the 2nd series of notes were given out in the year 1976 when Albania changed its country name to the People's Socialist Republic.
On 28th June 1991, 500 Leke notes were introduced which were followed by denominations of 200 and 1000 Leke on 1st October 1992. On 11th July 1997, A new banknote series dated 1996 was introduced. De La Rue printed the notes dated 1996 in the United Kingdom.
GBP to ALL
Introduced in February 1926, the Albanian Lek is the official currency of Albania. In 1991/1992 Albania suffered from the collapse of communism, which saw a mass migration of refugees to Italy and Greece. Following this, the value of the Albanian Lek fell dramatically. Alexander the Great’s name is usually shortened to Leka in Albanian, and it is from this that the lek gained its name. Bank Exchange Rates for Albanian Lek. The foreign exchange rates for Albania also known as the ISO code ALL. Send money transfer online with us with the cheapest options.