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Albanian lek

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Template:Short description Template:Redirect Template:Use dmy dates Template:Infobox currency

The lek (Template:Langx; indefinite singular lek, definite plural lekët, indefinite plural lekë; sign: L;<ref>Template:Cite book</ref> code: ALL) is the currency of Albania. Historically, it was subdivided into 100 qintars (Template:Langx; singular qindarkë).

HistoryEdit

File:ALB-1lek1926.jpg
Alexander the Great on the first Albanian 1 Lek coin.

The lek was introduced as the first Albanian currency in February 1926.<ref>Bank of Albania. Available at:{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Before then, Albania was a country without a currency, using a gold standard to fix commercial values. Before the First World War, the Ottoman Turkish piastre was in full circulation. During the occupation of Albania by Austria-Hungary, paper notes of the Austro-Hungarian krone were imposed on the population. Albanians were reluctant to use these notes and only did so in exchanges with the occupiers. The majority of the population used gold and silver piastres, or gave up on money altogether and bartered instead.<ref>Template:Cite journal</ref> In 1923 Italian paper circulated at Shkodër, Durrës, Vlorë, and Gjirokastër, and the Greek drachma at Korçë, the values of which varied according to locality and the prevailing rates of exchange as compared with gold.<ref>Trade Information Bulletin, Numbers 79 to 118, 1923</ref>

Gold standardEdit

From 1926 to 1939, the Albanian leke adhered to the gold standard de jure, with leke banknotes being convertible to gold. The leke's conversion to gold was guaranteed and the issue of gold francs was limited to three million units.<ref>Template:Cite journal</ref> Due to the gold standard, until 1939 the leke did not undergo significant inflation, and the amount of currency in circulation remained relatively constant.<ref>Template:Cite book</ref> Following the Italian invasion of Albania, the entire gold reserves of Albania, totaling 300,000 gold francs, were confiscated and sent to the Reichsbank in Berlin. This action, coupled with the introduction of the Italian lira in Albania, led to significant inflation and the devaluation of the leke.<ref>Template:Cite book</ref>

EtymologyEdit

The naming of this currency as "Lek" has two conflicting stories:

  1. It is named after Alexander the Great,<ref name="DunklingRoom1990">Template:Cite book</ref> whose name is often shortened to Leka in Albanian.<ref name="Berlin2006">Template:Cite book</ref> where Alexander's portrait appeared on the obverse of the 1 lek coin, while the reverse showed him on his horse.
  2. It was named after Lekë Dukagjini.<ref>{{#invoke:citation/CS1|citation

|CitationClass=web }}</ref> This is considered the official etymology, based on discussions in the Parliament of Albania in 1922.<ref>Template:Cite book</ref>

The word qindarkë comes from the Albanian qind, meaning one hundred, or from Arabic qintār ("hundredweight"). The word is thus comparable to centime, cent, Latin centenarius, etc.

FrangaEdit

Between 1926 and 1939, the main unit of Albanian currency was the franga ari (English: gold franc) (Fr.A.), worth 5 Lek and divided into 100 qindar ar (gold cent),<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> used in international transactions.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> This unit was similar in concept to the Belga, a unit worth five Belgian francs.

CoinsEdit

First lekEdit

In 1926, bronze coins were introduced in denominations of 5 and 10 qintars, together with nickel Template:Frac Lek, Template:Frac Lek and 1 Lek, and silver Fr.A. 1, Fr.A. 2 and Fr.A. 5 . The obverse of the franc coins depicts King Zog. In 1935, bronze 1 and 2 gold cents were issued, equal in value to the 5 and 10 qintars respectively. This coin series depicted distinct neoclassical motifs, said to have been influenced by the Italian king Victor Emmanuel III who was known to have been a coin collector. These coins depict the mint marks "R", "V" or "L", indicating Rome, Vienna or London.

Under the direction of Benito Mussolini, Italy invaded and occupied Albania and issued a new series of coins in 1939 in denominations of Lek 0.20, Lek 0.50, 1 Lek and 2  Lek in stainless steel, and 5 Lek and 10 Lek in silver. Aluminium-bronze Lek 0.05 and Lek 0.10 were introduced in 1940. A fixed exchange rate with the Italian lira was established at 5:6.25 (1 Lek = Lit.1.25, or Fr.A.1 = Lit.6.25). 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 1947, shortly after the Communist Party took power, older coins were withdrawn from circulation and a new coinage was introduced, consisting of zinc Template:Frac Lek, 1 Lek, 2 Lek and 5 Lek. These all depicted the socialist national crest. This coinage was again minted in 1957 and used until the currency reform of 1965.

Template:AnchorSecond lekEdit

In 1965, a confiscatory monetary reform was carried out at a rate of 10:1.

Aluminium coins (dated 1964) were introduced in denominations of 5, 10, 20 and 50 qintars and 1 Lek. All coins show the socialist state emblem.

In 1969, a second series of aluminium 5, 10, 20, 50 qintars 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 showed "1944-1969" on the obverse. The 50 qintar and lek coins showed patriotic and military images.

In 1988, a third redesign of aluminium 5, 10, 20, 50 qintars and 1 Lek coins was released. 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. In 1989, a cupro-nickel 2 Lek coin was introduced.

All three of these coin series remained in circulation during and shortly after the 1991 revolution. On 1 January 1992, those coins lost their legal tender status, effectively making qintars obsolete.

Foreign exchange certificatesEdit

Similar to many other socialist countries, Albania issued foreign exchange certificates, which only circulated in specially designated shops, and their exchange into regular lek banknotes was prohibited.

Template:AnchorThird lekEdit

In 1995 and 1996, new coins were introduced in denominations of 1 Lek, 5 Lekë, 10 Lekë, 20 Lekë and 50 Lekë, with a bimetallic 100 Lekë added in 2000.These coins use the letter e instead of the correct ë, but banknotes are spelt correctly.

Coins of the lek (1995–present)<ref>{{#invoke:citation/CS1|citation CitationClass=web

}}</ref>

Image Value Technical Parameters Description Dates
Obverse Reverse Diameter Thickness Mass Composition Edge Obverse Reverse Minting Issue
File:G823.jpg File:G824.jpg 1 Lek 18.1 mm 1.6 mm 3 g Bronze (1996), Copper-plated Steel (2008–2013) Smooth A pelican in the centre,
"Republika e Shqipërisë", year 		Nominal value,
branches artistically carved in the form of a crown 		1996, 2008, 2013 1996
File:G901.jpg File:G900.jpg 5 Lekë 20 mm 1.6 mm 3.12 g Nickel-plated Steel Eagle from the Flag of Albania,
"Republika e Shqipërisë", year 		1995, 2000, 2011, 2014, 2020 1995
File:G817.jpg File:G818.jpg 10 Lekë 21.25 mm 1.5 mm 3.6 g Aluminum-bronze (1996–2000), Brass-plated Steel (2009–2018) Milled Berat Castle, "Republika e Shqipërisë", year 1996, 2000, 2009, 2013, 2018 1996
File:G392.jpg File:G393.jpg 20 Lekë 23 mm 2 mm 4.6 g Aluminum-bronze (1996–2000), Brass-plated Steel (2012–2020) A Liburne ship, "Republika e Shqipërisë", year 1996, 2000, 2012, 2016, 2020 1996
File:G765.jpg File:G766.jpg 50 Lekë 24.25 mm 1.5 mm 5.5 g Copper-nickel Portrait of the Illyrian King Gentius, Republika e Shqipërisë",
year 		1996, 2000, 2020 1996
File:50 Leke 2003 Reverse.jpg File:50 Leke 2003 Obverse.jpg 50 Lekë 24.25 mm 5.5 g Copper-nickel An Illyrian helmet, "Republika e Shqipërisë", "Antikiteti Shqiptar", year<ref name=":1">{{#invoke:citation/CS1|citation CitationClass=web

}}</ref><ref name=":2">{{#invoke:citation/CS1|citation

CitationClass=web

}}</ref>

Nominal value, divided by a horizontal line and in the arch above "Antikiteti Shqiptar"<ref name=":1" /><ref name=":2" /> 2003 2004
File:G920.jpg File:G921.jpg 100 Lekë 24.75 mm 1.9 mm 6.7 g Bi-Metallic: Aluminium-bronze centre in Copper-nickel ring Portrait of the Illyrian Queen Teuta, "Republika e Shqipërisë", year Nominal value,
branches artistically carved in the form of a crown 		2000 2000
Template:Standard coin table notice

Commemorative coinsEdit

In 2001, 100 Lekë and 200 Lekë were issued under the theme of Albania's integration into the EU and 50, 100, and 200 lekë under the 500th anniversary of the Statue of David. In 2002, 50 Lekë and 100 Lek were issued for the 90th Anniversary of the Independence of Albania and 20 Lek under the Albanian Antiquity theme. In 2003, 50 lekë was issued in memory of the 100th anniversary of the death of Jeronim De Rada. In 2004, 50 Lekë was issued under the Albanian Antiquity theme depicting traditional costumes of Albania and the ancient Dea. In 2005, 50 Lekë were issued for the 85th anniversary of the proclamation of Tirana as capital and the theme of traditional costumes of Albania.

BanknotesEdit

First lekEdit

In 1926, the National Bank of Albania (Banka Kombëtare e Shqipnis) introduced notes in denominations of Fr.A. 1, Fr.A. 5, Fr.A. 20 and Fr.A. 100. In 1939, notes were issued in denominations of Fr.A. 5 and Fr.A. 20. These were followed in 1944 with notes for 2 Lek, 5 Lek, 10 Lek, and Fr.A. 100.

In 1945, the People's Bank of Albania (Banka e Shtetit Shqiptar) issued overprints on National Bank notes for 10 Lek, Fr.A. 20 and Fr.A. 100. Regular notes were also issued in 1945 in denominations of 1, Fr.A. 5, Fr.A. 20, Fr.A. 100 and Fr.A. 500. In 1947, the franga-ari was discontinued and the lek was adopted as the main currency unit, with notes issued for 10 Lek, 50 Lek, 100 Lek, 500 Lek and 1000 Lek.

1947 Series
Obverse Reverse Value
File:ALB0019o.jpg File:ALB0019r.jpg 10 Lek
File:ALB0020o.jpg File:ALB0020r.jpg 50 Lek
File:ALB0021o.jpg File:ALB0021r.jpg 100 Lek
File:ALB0022o.jpg File:ALB0022r.jpg 500 lekë
File:ALB0023o.jpg File:ALB0023r.jpg 1,000 Lek
1949 and 1957 series
Obverse Reverse Value
File:10 lekë of Albania in 1949 Obverse.png File:10 lekë of Albania in 1949 Reverse.png 10 Lek
File:50 lekë of Albania in 1949 Obverse.png File:50 lekë of Albania in 1949 Reverse.png 50 Lek
File:100 lekë of Albania in 1949 Obverse.png File:100 lekë of Albania in 1949 Reverse.png 100 Lek
File:500 lekë of Albania in 1949 Obverse.png File:500 lekë of Albania in 1949 Reverse.png 500 Lek
File:1000 lekë of Albania in 1949 Obverse.png File:1000 lekë of Albania in 1949 Reverse.png 1,000 Lek

Second lekEdit

In 1965, notes (dated 1964) were introduced by the Banka e Shtetit Shqiptar in denominations of 1 Lek, 3 Lek, 5 Lek, 10 Lek, 25 Lek, 50 Lek and 100 Lek. A second series of notes was issued in 1976 when the country changed its name to the People's Socialist Republic.

Obverse Reverse Value Colour Obverse Reverse
1964 and 1976 Series
File:ALB0033ao.jpg File:ALB0033ar.jpg 1 Lek Green Peasant couple with wheat Rozafa Castle, Shkodër
File:ALB0034ao.jpg File:ALB0034ar.jpg 3 Lek Brown Woman carrying basket of fruit Vlora
File:ALB0035ao.jpg File:ALB0035ar.jpg 5 Lek Purple Steam train and truck Ship
File:ALB0036ao.jpg File:ALB0036ar.jpg 10 Lek Green Woman working in a textile mill Bureaucrats and peasants socializing outside the Palace of Culture, Naim Frashëri
File:ALB0037ao.jpg File:ALB0037ar.jpg 25 Lek Dark blue Woman with wheat, combine harvesting Mechanized ploughing
File:ALB0038ao.jpg File:ALB0038ar.jpg 50 Lek Red Army on parade, Skanderbeg Mosin–Nagant rifle, pickaxe, apartment block under construction
File:ALB0039ao.jpg File:ALB0039ar.jpg 100 Lek Scarlet Man showing his son a new hydroelectric dam Steelworker with oil worker, gesturing grandly, steelworks and oil wells in background
1991 Series
File:AlbaniaP47a-100Leke-1991-donatedoy b.jpg File:AlbaniaP47a-100Leke-1991-donatedoy f.jpg 100 Lek Purple Steelworkers in front of a factory Factory
File:500 lek (1991) obverse.jpg File:500 lek (1991) reverse.jpg 500 Lek Blue, Orange Woman with sunflowers, denonimation ornament Mountain landscape

1992 seriesEdit

Due to the shortage of cash in circulation, in 1992, banknotes of 10 and 50 foreign currency leks (Lek Valutë ) were issued, while their value was increased 50 times: 10 foreign currency leks = 500 leks, 50 foreign currency leks = 2500 leks . The banknotes were in circulation for only one year and were soon replaced by banknotes of the 1992 model. A banknote of 1 currency lek was printed, but not put into circulation.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

1992 Series
Image Value Dimensions Main Colour Description
Obverse Reverse Obverse Reverse
File:AlbaniaP48A-1LekValute(=50Leke)-(1992)-donated f.jpg File:AlbaniaP48A-1LekValute(=50Leke)-(1992)-donated b.jpg 1 Lek 165×75 mm Violet Steel worker Electrical transmission towers, hydroelectric generator
File:AlbaniaP49a-10LekValute(=500Leke)-(1992)-donated f.jpg File:AlbaniaP49a-10LekValute(=500Leke)-(1992)-donated b.jpg 10 Lek Green
File:AlbaniaP50a-50LekValute(=2500Leke)-(1992)-donated f.jpg File:AlbaniaP50a-50LekValute(=2500Leke)-(1992)-donated b.jpg 50 Lek Brown
File:ALB0055co.jpg File:ALB0055cr.jpg 100 Lek 154 × 72 mm Violet National fighter Falcon and mountains
File:ALB0056ao.jpg File:ALB0056ar.jpg 200 Lek 162 × 78 mm Brown Ismail Qemali Coat of arms of Albania, declaration of independence of Albania
File:ALB0057ao.jpg File:ALB0057ar.jpg 500 Lek 170 × 78 mm Blue Naim Frashëri Poetry of Frashëri
File:ALB0061co.jpg File:ALB0061cr.jpg 1,000 Lek 178 × 78 mm Green Skanderbeg Krujë Castle

1997 seriesEdit

On 11 July 1997, a new series of banknotes dated 1996-97 was introduced.<ref>Bank of Albania. Available at: http://www.bankofalbania.org Template:Webarchive</ref>

Notes dated 1996 were printed by De La Rue in the United Kingdom.Template:Citation needed

The 2000 lek note was introduced in 2008. The 100 lek banknote is rarely seen in circulation, as the 100 lek coin is used instead.

1996 Series<ref name=":0">Bank of Albania. Available at: {{#invoke:citation/CS1|citation CitationClass=web

}}</ref>

Image Value Dimensions Main Colour Description
Obverse Reverse Obverse Reverse
File:ALB0062o.jpg File:ALB0062r.jpg 100 Lek 130 × 66 mm Purple/Orange Fan Noli (1882–1965) First Albanian Parliament building
File:ALB0071-2012o.jpg File:ALB0071-2012r.jpg  200 Lek 138 × 69mm Brown Naim Frashëri (1846–1900) House birthplace of Frashëri
File:ALB0072-2015o.jpg File:ALB0072-2015r.jpg 500 Lek 145 × 68 mm Blue Ismail Qemali (1844–1919) Vlorë independence building
File:ALB0073bo.jpg File:ALB0073br.jpg 1,000 Lek 151 × 72 mm Green Pjetër Bogdani (1630–1689) Gothic Church of Vau-Dejës
File:ALB0074-2012o.jpg File:ALB0074-2012r.jpg 2,000 Lek 160 x 72 mm Purple King Gent (Gentius) (died 167 BC); three ancient coins Amphitheatre at Butrinto (near Saranda), yellow gentian (Gentiana lutea)
File:ALB0075-2013o.jpg File:ALB0075-2013r.jpg 5,000 Lek 160 × 72 mm Olive Green Skanderbeg (1405–1468) Krujë Castle

2019–2022 seriesEdit

In 2019, the Bank of Albania unveiled a new series of banknotes, featuring the same themes as seen on the 1997 series, but with improved security features and a change in material for the 200 Lek banknote; now being issued as a polymer banknote.

This series has also introduced a new denomination, the 10,000 Lek, its highest denominated banknote issued for general circulation. The first two denominations issued for this series, the 200 and 5,000 lekë banknote were issued for circulation on 30 September 2019, with the 1,000 Lek and 10,000 Lek banknotes being released on 30 June 2021, and the 2,000 Lek and 500 Lek banknotes being released on 17 January 2022.

2019–2022 series<ref name=":0" />
Image Value Dimensions Main Colour Description
Obverse Reverse Obverse Reverse
File:Albania-200lek-voor.jpg File:Albania-200lek-achter.jpg 200 Lek 125 mm x 65 mm Brown Naim Frashëri House birthplace of Frashëri, paper with a famous verse from one of Frashëri's poems
File:500Lek-768x405.png File:Lek500-new-768x406.png 500 Lek 132 mm x 69 mm Blue Ismail Qemali Vlorë independence building, the telegraph which was used to announce the country's independence, and the room where the decision was made
File:1000lek-768x383.png File:1000lek-new-768x395.png 1,000 Lek 139 mm x 69 mm Green Pjetër Bogdani Gothic Church of Vau
File:2000lek-768x376.png File:Albania-2000lek-achter.jpg 2,000 Lek 146 mm x 72 mm Purple King Gent (Gentius); three ancient coins Amphitheatre at Butrint (near Saranda), yellow gentian (Gentiana lutea)
File:Albania-5000.jpg File:Albania-5000-(July-2019)-back-600dpi.jpg 5,000 Lek 153 mm x 72 mm Yellow Skanderbeg Krujë Castle, Skanderbeg's monument in Tirana's Skanderbeg Square, and his helmet
File:ALBW2019-10000o.jpg File:ALBW2019-10000r.jpg 10,000 Lek 160 mm x 72 mm Red Asdreni (1872–1947) Figurative symbols of national flag, first two lines from the national anthem

Exchange ratesEdit

Template:Exchange rate

See alsoEdit

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Template:Notelist

ReferencesEdit

Template:Reflist Template:Refbegin

Template:Refend Template:Sister project

External linksEdit

|CitationClass=web }}

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