Albanian lek facts for kids

Quick facts for kids Albanian lek
5000 Lekë banknote Lekë coins
ISO 4217 Code	ALL
User(s)	Albania
Inflation	2.6%
Source	[1] 2024
Subunit
1⁄100	qindarkë
Symbol	L
Plural	lekë
qindarkë	qindarka
Coins
Freq. used	5  Lekë, 10  Lekë, 20  Lekë, 50  Lekë, 100  Lekë
Rarely used	1 Lek, 50  Lekë (2003 series)
Banknotes
Freq. used	200  Lekë, 500  Lekë, 1,000  Lekë, 2,000  Lekë, 5,000  Lekë
Rarely used	10,000  Lekë

The lek (called leku shqiptar in Albanian) is the official money of Albania. Its symbol is L, and its code is ALL. One lek used to be divided into 100 qindars (called qindarka).

History of the Lek

Alexander the Great on the first Albanian 1 Lek coin.

The lek became Albania's first official money in February 1926.

Money Before the Lek

Before 1926, Albania did not have its own currency. People used different foreign coins, like the Ottoman Turkish piastre. During World War I, some people used paper money from Austria-Hungary. However, many Albanians still preferred to use gold and silver coins. Some even traded goods directly, which is called barter.

In 1923, Italian paper money was used in some cities. Greek money, called the drachma, was used in other areas. The value of these foreign currencies changed a lot from place to place.

The Gold Standard

From 1926 to 1939, the Albanian lek was linked to the gold standard. This meant that lek banknotes could be exchanged for a certain amount of gold. Because of this, the lek stayed quite stable and did not lose much value.

However, after Italy took over Albania, the country's gold reserves were taken. This, along with the introduction of the Italian lira in Albania, caused the lek to lose a lot of its value.

Where the Name Comes From

The name lek comes from Alexander the Great. In Albanian, his name is often shortened to Leka. You can even see Alexander's picture on the front of the 1 lek coin. The back of the coin shows him riding his horse.

The word qindarkë comes from the Albanian word qind, which means one hundred. This is similar to how the word "cent" means one hundredth of a dollar.

The Franga Ari

Between 1926 and 1939, there was another important unit of Albanian money called the franga ari (meaning gold franc). One franga ari was worth 5 lek. It was mainly used for international trade.

Coins

Early Lek Coins

In 1926, Albania started making coins. They made bronze coins for 5 and 10 qintars. They also made nickel coins for 1⁄4 Lek, 1⁄2 Lek, and 1 Lek. Silver coins were made for 1, 2, and 5 franga ari. The franga coins showed King Zog.

Later, in 1935, new bronze coins were made. These coins had beautiful designs inspired by ancient art.

When Italy took over Albania in 1939, new coins were made. These included stainless steel coins for 0.20, 0.50, 1, and 2 lek. Silver coins were made for 5 and 10 lek. These coins showed the Italian King Victor Emmanuel III.

After the Communist Party came to power in 1947, older coins were removed. New zinc coins were introduced for 1⁄2 Lek, 1 Lek, 2 Lek, and 5 Lek. These coins featured the country's socialist symbol.

The Second Lek (1965-1991)

In 1965, Albania changed its money system. Old money was exchanged for new money at a rate of 10 old lek for 1 new lek.

New aluminum coins were made for 5, 10, 20, and 50 qintars, and 1 Lek. All these coins showed the socialist state symbol. In 1969, a second series of coins was released to celebrate Albania's liberation from fascism in 1944.

In 1988, the coins were redesigned again. The 50 qindarka and 1 Lek coins looked too similar. So, new 1 Lek coins made of aluminum-bronze were released to make them easier to tell apart. In 1989, a 2 Lek coin was added.

These coins were used until 1992. After that, qintars were no longer used.

Foreign Exchange Certificates

Like some other socialist countries, Albania used special money called foreign exchange certificates. You could only use these in certain shops. It was not allowed to exchange them for regular lek banknotes.

The Third Lek (1995-Present)

In 1995 and 1996, new coins were introduced. These included 1 Lek, 5 Lekë, 10 Lekë, 20 Lekë, and 50 Lekë. A special 100 Lekë coin, made of two different metals, was added in 2000.

Coins of the lek (1995–present)
Image		Value	Technical parameters				Description			Dates
Obverse	Reverse		Diameter	Thickness	Mass	Composition	Edge	Obverse	Reverse	Year of minting	Year of issue
		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
		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
		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
		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
		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
		50 Lekë	24.25 mm		5.5 g	Copper-nickel		An Illyrian helmet, "Republika e Shqipërisë", "Antikiteti Shqiptar", year	Nominal value, divided by a horizontal line and in the arch above "Antikiteti Shqiptar"	2003	2004
		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
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Commemorative Coins

Albania also makes special coins to celebrate important events.

• In 2001, coins were made for Albania joining the European Union.
• Other coins celebrated the 500th anniversary of the Statue of David.
• In 2002, coins marked 90 years since Albania declared its independence.
• Coins have also featured themes like "Albanian Antiquity" and traditional costumes.

Banknotes

First Lek Banknotes

In 1926, the National Bank of Albania started printing banknotes. These were in values of 1, 5, 20, and 100 franga ari. More notes were issued in 1939 and 1944.

In 1945, the People's Bank of Albania took over. They printed new notes for 10, 50, 100, 500, and 1000 lek. In 1947, the franga-ari was no longer used, and the lek became the main currency.

1947 series
Obverse	Reverse	Value
		10 Lek
		50 Lek
		100 Lek
		500 lekë
		1,000 Lek
1949 and 1957 series
Obverse	Reverse	Value
		10 Lek
		50 Lek
		100 Lek
		500 Lek
		1,000 Lek

Second Lek Banknotes

In 1965, new banknotes were introduced. These included values like 1, 3, 5, 10, 25, 50, and 100 lek. A second series of these notes came out in 1976. This was when the country changed its name to the People's Socialist Republic.

1964 and 1976 series
Obverse	Reverse	Value	Colour	Obverse	Reverse
		1 Lek	Green	Peasant couple with wheat	Rozafa Castle, Shkodër
		3 Lek	Brown	Woman carrying basket of fruit	Vlora
		5 Lek	Purple	Steam train and truck	Ship
		10 Lek	Green	Woman working in a textile mill	Bureaucrats and peasants socializing outside the Palace of Culture, Naim Frashëri
		25 Lek	Dark blue	Woman with wheat, combine harvesting	Mechanized ploughing
		50 Lek	Red	Army on parade, Skanderbeg	Mosin–Nagant rifle, pickaxe, apartment block under construction
		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
		100 Lek	purple	Steelworkers in front of a factory	factory
		500 Lek	blue, orange	Woman with sunflowers, denonimation ornament	Mountain landscae

1992 Series

In 1992, special banknotes called "foreign currency leks" (Lek Valutë) were issued. These were for 10 and 50 foreign currency leks. Their value was much higher than regular leks. For example, 10 foreign currency leks were worth 500 regular leks. These notes were only used for one year.

1992 Series
Image		Value	Dimensions	Main Colour	Description
Obverse	Reverse				Obverse	Reverse
		1 Lek	165×75	Violet	Steel worker	Electrical transmission towers, hydroelectric generator
		10 Lek		Green
		50 Lek		Brown
		100 Lek	154 × 72 mm	Violet	National fighter	Falcon and mountains
		200 Lek	162 × 78 mm	Brown	Ismail Qemali	Coat of arms of Albania, declaration of independence of Albania
		500 Lek	170 × 78 mm	Blue	Naim Frashëri	Poetry of Frashëri
		1,000 Lek	178 × 78 mm	Green	Skanderbeg	Krujë Castle

1997 Series

On July 11, 1997, a new series of banknotes was introduced. These notes had improved security features. The 2000 lek note was added in 2008.

1996 Series
Image		Value	Dimensions	Main Colour	Description
Obverse	Reverse				Obverse	Reverse
		100 Lek	130 × 66 mm	Purple/Orange	Fan S. Noli (1882–1965)	First Albanian Parliament building
		200 Lek	138 × 69mm	Brown	Naim Frashëri (1846–1900)	House birthplace of Frashëri
		500 Lek	145 × 68 mm	Blue	Ismail Qemali (1844–1919)	Vlorë independence building
		1,000 Lek	151 × 72 mm	Green	Pjetër Bogdani (1630–1689)	Gothic Church of Vau
		2,000 Lek	160 x 72 mm	Purple	King Gent (Gentius) (181 BC–168 BC); three ancient coins	Amphitheatre at Butrinto (near Saranda), yellow gentian (Gentiana lutea)
		5,000 Lek	160 × 72 mm	Olive Green	Skanderbeg (1405–1468)	Krujë Castle

2019–2022 Series

In 2019, the Bank of Albania introduced a new series of banknotes. These notes have the same themes as the 1997 series. However, they have better security features. The 200 Lek banknote is now made of a special plastic material called polymer banknote.

This new series also includes a 10,000 Lek banknote. This is the highest value banknote ever issued for general use in Albania. The first new notes (200 and 5,000 lekë) came out in September 2019. The 1,000 Lek and 10,000 Lek notes were released in June 2021. The 2,000 Lek and 500 Lek notes followed in January 2022.

2019–2022 series
Image		Value	Dimensions	Main Colour	Description
Obverse	Reverse				Obverse	Reverse
		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
		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
		1,000 Lek	139 mm x 69 mm	Green	Pjetër Bogdani	Gothic Church of Vau
		2,000 Lek	146 mm x 72 mm	Purple	King Gent (Gentius); three ancient coins	Amphitheatre at Butrint (near Saranda), yellow gentian (Gentiana lutea)
		5,000 Lek	153 mm x 72 mm	Yellow	Skanderbeg	Krujë Castle, Skanderbeg's monument in Tirana's Skanderbeg Square, and his helmet
		10,000 Lek	160 mm x 72 mm	Orange	Asdreni (1872–1947)	Figurative symbols of national flag, first two lines from the national anthem

Exchange rates

See Also

In Spanish: Lek albanés para niños

• Franga
• Korçë frange
• Economy of Albania