Albanian lek

The lek (plural lekë) is the currency of Albania. It is divided into 100 qindarkë (singular qindarka). The ISO 4217 code for this monetary unit is ALL and its abbreviation L.

Name

The name of the coin derives from the popular Albanian abbreviation of Alexander the Great (Leka i Madh). The lek was introduced during the reign of Ahmet Zogu and is issued by the Bank of Albania (Banka e Shqipërisë). The name qindarka comes from the Albanian qind, which means one hundred. Qindarka has, therefore, the same meaning as cent, cent, centime, hundredth, etc.

History

Until 1912, Albania used the Turkish lira, as it was part of the Ottoman Empire. But after the subsequent independence, which occurred in November, a new currency was not introduced until 1926, due to a period of political chaos. During this period, several foreign currencies circulated, particularly those of the Latin Monetary Union. Some paper money was also issued during this period, for Berat, Gjirokastër, Korçë, Shkodër and Vlorë. The denominations used were the para and the grosh (divisions of the Turkish lira), Italian liras, franga argjent (“silver francs”), Franks, qint, qindtar, skender...

First lek

The lek was introduced in 1926. At first there were four denominations in circulation. The lek was worth 100 qindar leku while the frang ar (also frank ar) was worth 100 kindar ar or 5 lekë. The lek was equivalent to the Italian lira.

During the Italian occupation of Albania in 1938, the lek reduced its value to 0.8 Italian lire. The coins issued carried denominations only in lek during the occupation. After the Second World War, only the lek and the qindarka (equivalent to the qindar leku) were issued. Between 1946 and 1948, the lek was set at a 1:1 rate with the Yugoslavian dinar. It was then fixed at 12.5 lekë = 1 Soviet ruble.

Second lek

As a consequence of the revaluation of the Soviet ruble in 1961, the lek was also revalued in 1965, at the rate of 10 old lekë = 1 new lek, to restore the exchange rate of 12.5 lekë = 1 ruble. This lek continued in circulation to this day, although it suffered considerable inflation after the end of the communist regime.

Lek valutë

In 1992, a new lek was introduced, called lek valutë, equivalent to 50 lekë. Two denominations of banknotes were issued, 10 and 50 lekë valutë (the 1 lek valutë banknote was printed but not issued). However, the lek valutë did not replace the lek and no further issues were made in that currency.

Denomination	Preferred color	Picture of the reverse	Picture of the back
1 Lek valutë	Violeta
10 Lekë valutë	Green
50 Lekë valute	Grey

Coins

First lek

In 1926 the bronze coins of 5 and 10 qindar leku were introduced, along with the ¼, ½ and 1 lek nickel coins and the 1, 2 and 5 franga ar of silver. In 1935, the 1 and 2 bronze qindar coins were issued, equal in value to the 5 and 10 qindar leku coins.

Denomination	Metal	Reverse	Reversal	Image
5 Qindar Leku	Cu+Zn	León SHQIPNI Year of minting	5 QINDAR LEKU Oak branch
10 Qindar Leku	Cu+Zn	Eagle SHQIPNI Year of minting	10 QINDAR LEKU Laurel branches
1 Qindar Ar	Cu+Zn	Arms shield SHQIPNI Year of minting	1 QINDAR·AR Oak branch
2 Qindar Ar	Cu+Zn	Arms shield SHQIPNI Year of minting	2 QINDAR·AR Laurel branch
1⁄4 Leku	Cu+Ni	León SHQIPNI Year of minting	1⁄4 LEKU Oak branch
1⁄2 Lek	Cu+Ni	Arms shield SHQIPNI Year of minting	1⁄2 LEK Hercules fighting with a lion
1 Lek	Cu+Ni	Bus SHQIPNI Year of minting	1 LEK Horseman

After the Italian occupation, the 0.20, 0.50, 1 and 2 lekë stainless steel and the 5 and 10 lekë silver coins were introduced, along with the 0.05 and 0.10 lekë silver coins. bronze-aluminum in 1940. These coins were issued until 1941.

Denomination	Metal	Reverse	Reversal	Image
0.05 Lekë	Cu+Ni+Zn	Victor Manuel III VITT·EM·III RE E IMP·MBRET E PER·	LEK 0.05 Oak branch SHQIPNI - ALBANIA Year of minting
0.10 Lekë	Cu+Ni+Zn	Victor Manuel III VITT·EM·III RE E IMP·MBRET E PER·	LEK 0.10 Laurel branch SHQIPNI - ALBANIA Year of minting
0.20	Steel	Victor Manuel III VITT·EM·III RE E IMP·MBRET E PER·	LEK 0.20 Arms shield Phases SHQIPNI - ALBANIA Year of minting
0.50	Steel	Victor Manuel III VITT·EM·III RE E IMP·MBRET E PER·	LEK 0.50 Arms shield Phases SHQIPNI - ALBANIA Year of minting
1 Lek	Steel	Victor Manuel III VITT·EM·III RE E IMP·MBRET E PER·	1 LEK Arms shield Phases SHQIPNI - ALBANIA Year of minting
2 Lekë	Steel	Victor Manuel III VITT·EM·III RE E IMP·MBRET E PER·	2 LEK Arms shield Phases SHQIPNI - ALBANIA Year of minting
5 Lekë	Ag	Victor Manuel III VITT·EM·III RE E IMP·MBRET E PER·	5 LEK Arms shield Phases SHQIPNI - ALBANIA Year of minting
10 Lekë	Ag	Victor Manuel III VITT·EM·III RE E IMP·MBRET E PER·	10 LEK Arms shield Phases SHQIPNI - ALBANIA Year of minting

In 1947 a new series was introduced, consisting of zinc ½, 1, 2 and 5 lekë coins. This series was broadcast until 1957.

Denomination	Metal	Reverse	Reversal	Image
1⁄2 Leku	Zn	Arms shield SHQIPÉRI Stars	1⁄2 LEKU Stars Year of minting
1 Lek	Zn	Arms shield SHQIPÉRI Stars	1 LEK Stars Year of minting
2 Lekë	Zn	Arms shield SHQIPÉRI Stars	2 LEKÉ Stars Year of minting
5 Lekë	Zn	Arms shield SHQIPÉRI Stars	5 LEKÉ Stars Year of minting

Second lek

In 1965, and dating back to 1964, the aluminum coins of 5, 10, 20 and 50 qindarka and 1 lek were introduced. Later, a new series was introduced in 1988 that eliminated the stars of the previous designs and, as a novelty, added to the monetary cone a 2 lekë coin and another 1 lekë coin minted in bronze-aluminum.

Series of 1964

Denomination	Metal	Song	Diameter (mm.)	Weight (g)	Reverse	Reversal	Image
5 Qindarka	Al	Striated	18,00	0.80	Arms shield Stars SHQIPÉRI Year of minting	5 QINDARKA Wheat ears Stars
10 Qindarka	Al	Striated	20,00	1,10	Arms shield Stars SHQIPÉRI Year of minting	10 QINDARKA Wheat ears Stars
20 Qindarka	Al	Striated	22,00	1.50	Arms shield Stars SHQIPÉRI Year of minting	20 QINDARKA Wheat ears Stars
50 Qindarka	Al	Striated	24,50	1.90	Arms shield Stars SHQIPÉRI Year of minting	50 QINDARKA Wheat ears Stars
1 Lek	Al	Striated	26,50	2,30	Arms shield Stars SHQIPÉRI Year of minting	1 LEK Wheat ears Stars

1988 Series

Denomination	Metal	Song	Diameter (mm.)	Weight (g)	Reverse	Reversal	Image
5 Qindarka	Al	Liso	18,00	0.80	Arms shield SHQIPERI Year of minting	5 QINDARKA Wheat ears
10 Qindarka	Al	Liso	20,20	1,10	Arms shield SHQIPERI Year of minting	10 QINDARKA Wheat ears
20 Qindarka	Al	Liso	22,00	1.50	Arms shield SHQIPERI Year of minting	20 QINDARKA Wheat ears
50 Qindarka	Al	Liso	24.10	2.00	Arms shield SHQIPERI Year of minting	50 QINDARKA Wheat ears
1 Lek	Al	Liso	24,20	2.00	Arms shield SHQIPERI Year of minting	1 LEK Wheat ears
1 Lek	Cu+Ni+Zn	Liso	24,20	5,20	Arms shield REPUBLIKA POPULLORE SOCIALISTE E SHQIPERISE Year of minting	1 LEK Wheat ears
2 Lekë	Cu+Ni	Liso	26,00	7.70	Arms shield REPUBLIKA POPULLORE SOCIALISTE E SHQIPERISE Year of minting	2 LEKE Wheat ears

Between 1995 and 1996 a new series was introduced to eliminate the old coats of arms with communist insignia, in denominations of 1, 2, 5, 10, 20 and 50 lekë, with a bimetallic 100 lekë coin added in 2000. It was expected that a new 200 lekë coin would be introduced by mid-2009 to replace the banknote of the same denomination^{[citation needed]}. In addition, there are several names coined to commemorate a specific reason.

Below is a table with the characteristics of the latest series in circulation. The images can be seen in the currency tab in the header of the article.

Tickets

First lek

In 1926 the National Bank of Albania (Banka Kombëtare e Shqipnis) introduced banknotes in denominations of 1, 5, 20 and 100 franga ari. In 1939 they were issued with denominations of 5 and 20 franga. These were succeeded in 1944 by others of 2, 5 and 10 lekë and 100 franga.

In 1945 the People's Bank of Albania (Banka e Shtetit Shqiptar) issued overprints on National Bank banknotes for 10 lekë, 20 and 100 franga. Regular banknotes of 1, 5, 20, 100 and 500 franga were also issued. In 1947 the lek was adopted as the main denomination, with banknotes issued in 10, 50, 100, 500 and 1,000 lekë.

Series of 1947

Denomination	Preferred color	Picture of the reverse	Picture of the back
10 Lekë	Green
50 Lekë	Granate
100 Lekë	Violeta
500 Lekë	Brown
1,000 Lekë	Orange/brown

Series of 1949 and 1957

Denomination	Preferred color	Picture of the reverse	Picture of the back
10 Lekë	Red
50 Lekë	Blue
100 Lekë	Green
500 Lekë	Blue/Naranja
1,000 Lekë	Violeta

Second lek

In 1965, the banknotes of 1, 3, 5, 10, 25, 50 and 100 lekë were introduced, dated 1964, by the Banka e Shtetit Shqiptar. A second series of banknotes was issued in 1976 when the country changed its name to the Socialist People's Republic. The artist Sadik Kaceli participated in the design of these banknotes.

Series of 1964 and 1976

Denomination	Preferred color	Picture of the reverse	Picture of the back
1 Lek	Green
3 Lekë	Granate
5 Lekë	Violeta
10 Lekë	Blue/Verde
25 Lekë	Blue
50 Lekë	Granate
100 Lekë	Brown
100 Lekë	Blue

New denominations

In 1991 denominations of 100 and 500 lekë were introduced. A year later, a new series was introduced with different designs and colors in denominations of 100, 200, 500 and 1,000 lekë. In 1996, another new series was issued with different motifs and in the same denominations, and with the novelty of the introduction of the new 5,000 lekë banknote. In 2008, a new 2,000 lekë banknote was introduced.

1991 Series

Denomination	Preferred color	Picture of the reverse	Picture of the back
100 Lekë	Granate
500 Lekë	Blue/Gate

1992-1994 Series

Denomination	Dimensions	Preferred color	Picture of the reverse	Picture of the back
100 Lekë	154 x 72 mm	Violeta
200 Lekë	162 x 78 mm	Brown
500 Lekë	170 x 78 mm	Blue
1,000 Lekë	178 x 78 mm	Green

1996 to present series

Denomination	Dimensions	Preferred color	Picture of the reverse	Picture of the back
100 Lekë	130 x 66 mm	Violeta
200 Lekë	138 x 69 mm	Brown
500 Lekë	145 x 68 mm	Blue
1,000 Lekë	151 x 72 mm	Green
2,000 Lekë	155 x 72 mm	Violeta
5,000 Lekë	160 x 72 mm	Yellow