About the Albanian Lek
The Albanian lek was introduced in 1926 by King Zog I as the first official currency of Albania, replacing the Ottoman Turkish Piasters that were in circulation.
The name 'Lek' is named in honor of Alexander the Great, whose name is often shortened to 'Leka' in Albanian.
Interesting Facts
Named After Alexander the Great
The Lek is named after Alexander the Great, who is a national hero in Albania and is known as 'Leka i Madh'.
Skanderbeg on Banknotes
Many Albanian banknotes feature Gjergj Kastrioti Skënderbeu (Skanderbeg), another national hero who led a rebellion against the Ottoman Empire.
No More Qindarka
Although the Lek is officially divided into 100 qindarka, the subunit is no longer in circulation due to its low value.
Historical Timeline
Albania declares independence from the Ottoman Empire.
The first Albanian currency, the Lek, is introduced.
A new series of banknotes is issued under the communist regime.
A second revaluation of the Lek occurs, with a new series of coins and banknotes.
After the fall of communism, a new series of coins and banknotes is introduced.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- ALL
- Symbol
- L
- Numeric Code
- 008
- Subunit
- Qindarkë (1/100)
- Introduced
- 1926-02-16
Central Bank
- Name
- Bank of Albania
- Headquarters
- Tirana, Albania
- Founded
- 1925
- Current Governor
- Gent Sejko (since 2015)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 4.5%
- Interest Rate
- 3.25%
Exchange Rates
What Affects the ALL Exchange Rate?
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