Albanian Lek Currency of Albania

Albanian lek is the one type of currency of the country Albania for the day-to-day transaction or exchange of commodities and services.

The Albanian lek (code: ALL) is the official currency of Albania. It has been the country’s currency since 1926. The currency is issued and regulated by the Bank of Albania, the central bank of the country.

The Albanian lek is divided into coins and banknotes. The coins are available in denominations of 1, 5, 10, 20, 50, and 100 lekë. These coins feature various designs and symbols, representing aspects of Albanian culture and history.

Banknotes in circulation include denominations of 200, 500, 1,000, 2,000, and 5,000 lekë. Each banknote features notable figures from Albanian history, landmarks, and cultural symbols. These banknotes showcase the rich heritage of the country.

Albanian lek currency in albania
Albanian lek currency in albania

Introduction

In the heart of Southeast Europe lies the beautiful country of Albania, known for its rich history, stunning landscapes, and vibrant culture. As with any nation, Albania has its own currency, the Albanian lek. In this article, we will delve into the details of the Albanian lek, its history, design, value, and significance in the country’s economy. So, let’s explore the fascinating world of the Albanian lek together!

A Brief History of the Albanian Lek

The Albanian lek has a fascinating history that dates back to 1926 when it was first introduced as the official currency of Albania. The word “lek” itself is derived from Alexander the Great’s currency, the “stater leu,” used during his conquests. Over the years, the Albanian lek has undergone several changes, including denominations, designs, and security features.

Design and Denominations

The Albanian lek comes in various denominations, each representing a different value. Currently, the lek is available in coins of 1, 5, 10, 20, 50, and 100 lekë, as well as banknotes of 200, 500, 1,000, 2,000, and 5,000 lekë. These banknotes depict prominent figures from Albanian history, cultural symbols, and iconic landmarks.

The design of the lek banknotes showcases the country’s heritage and natural beauty. For instance, the 500 lekĂ« banknote features Gjergj Kastrioti Skanderbeg, a national hero who led the resistance against the Ottoman Empire. The reverse side depicts the ancient city of Butrint, a UNESCO World Heritage Site located in southern Albania.

Some basic details of Albanian lek

AttributeDescription
Currency NameAlbanian Lek
Currency CodeALL
SymbolL
SubunitQindarka (No longer in circulation)
DenominationsCoins: 1, 5, 10, 20, 50, 100 lekë
Banknotes: 200, 500, 1,000, 2,000, 5,000 lekë
Central BankBank of Albania
Exchange RateVaries; approximately 1 ALL = 0.009247 EUR
Design and ThemesBanknotes feature historical figures, landmarks, and cultural symbols of Albania
SignificancePrimary currency of Albania; represents national identity and economic stability

Value and Exchange Rate

The value of the Albanian lek fluctuates in relation to other international currencies, particularly the Euro. As of 18.06.2023, the exchange rate stands at approximately 108.09 lekë per Euro. However, it is important to note that exchange rates can vary and are subject to market conditions.

How to convert ALL to USD or other currency?

You can consider these simple steps to convert ALL to USD-

  1. First of all, Find the current exchange rate for ALL to USD.
  2. Then Multiply the amount of ALL you wish to convert by the current exchange rate.
  3. Then round the result to the nearest cent if necessary.
  4. Alternatively, you can use an online currency converter (such as xe.com, or unitcoverters.net) to fast and easily convert ALL to USD. Simply enter the amount of Afghan Afghani currency you wish to convert and select USD as the target currency, and the converter will automatically calculate the converted amount based on the current exchange rate.

The Significance of the Albanian Lek

The Albania lek holds immense significance in the country’s economy and everyday life. It serves as the primary medium of exchange for goods and services within Albania. The wide acceptance of the lek demonstrates the trust and confidence the Albanian people have in their currency.

Furthermore, the Albania government, through its central bank, the Bank of Albania, actively manages and regulates the lek to maintain stability and ensure the smooth functioning of the economy. These efforts contribute to creating a favorable environment for businesses, both domestic and international, operating within Albania.

Some basic details of Albania Country

AttributeDescription
Country NameAlbania
CapitalTirana
AreaApproximately 28,748 square kilometers
PopulationApproximately 2.9 million people
Official LanguageAlbanian
GovernmentParliamentary Republic
CurrencyAlbanian Lek (ALL)
Time ZoneCentral European Time (CET)
Calling Code+355
Internet TLD.al
Bordering CountriesGreece, North Macedonia, Kosovo, Montenegro
CoastlineApproximately 362 kilometers along the Adriatic and Ionian Seas
Highest PointMount Korab (2,764 meters)
National FlagA red flag with a black double-headed eagle
ClimateMediterranean climate with hot summers and mild winters
TerrainMountainous with coastal plains
Natural ResourcesPetroleum, natural gas, coal, bauxite, chromite, copper
Major IndustriesAgriculture, mining, energy, manufacturing, tourism
Major ExportsClothing, footwear, minerals, metals, textiles
Major ImportsMachinery, equipment, fuels, foodstuffs, textiles
ReligionPredominantly Islam (Sunni and Bektashi sects), Christianity
Official HolidaysIndependence Day (November 28), Flag Day (November 28)
National Anthem“Hymni i Flamurit” (Hymn to the Flag)
World Heritage SitesButrint, Gjirokastër, Berat, Historic Centres of Berat and Gjirokastër
Famous LandmarksSkanderbeg Square, Berat Castle, Durrës Amphitheatre
CuisineTraditional dishes include byrek, tavë kosi, fërgesë, baklava
SportsFootball (soccer), basketball, volleyball, weightlifting
National AnimalGolden Eagle
basic detail of albania

Conclusion

In conclusion, the Albania currency is not just a mere currency but a symbol of Albania’s rich history, national pride, and economic stability. Its unique design, historical significance, and value make it an integral part of the country’s identity. Whether you’re planning a visit to Albania or simply interested in learning about different currencies, understanding the Albania lek provides valuable insights into the nation and its people.

So, next time you come across the Albania lek, remember the stories it carries and the pride it represents for the people of Albania.

Faqs on albanian lek currency

1. What is the currency of Albania?

The currency of Albania is the Albanian lek (code: ALL).

2. What is the symbol for the Albanian lek?

The symbol for the Albanian lek is “L”.

3. Can I exchange foreign currency for Albanian lek?

Yes, foreign currency can be exchanged for Albania currency lek at authorized exchange offices, banks, or currency exchange booths.

4. What is the exchange rate of the Albanian lek?

The exchange rate of the Albania lek can fluctuate and is determined by market conditions. It is advisable to check with authorized exchange platforms or financial institutions for the most up-to-date exchange rates.

5. Where can I use the Albanian lek as a form of payment?

The Albania lek is the primary currency used for transactions within Albania. It is accepted by businesses, hotels, restaurants, and other establishments throughout the country.

By larry Brown

A senior accountant, and banking & finance expert, with five years long experience in banking, finance, Investment, and money management.