Currency Information on Albanian Lek - ALL- Albanian Lek - L
Introduced in February 1926, the Albanian Lek is the official currency of Albania. In 1991/1992 Albania suffered from the collapse of communism, which saw a mass migration of refugees to Italy and Greece. Following this, the value of the Albanian Lek fell dramatically. Alexander the Great’s name is usually shortened to Leka in Albanian, and it is from this that the lek gained its name.
To this effect, Alexander the Great appears in portrait form on the back of the 1 lek coin.
Subdivided into 100 qindarka, which are no longer issued, the new lek was introduced in 1965 when coins to the value of 5, 10, 20 and 50 qindarka were issued.
Now there are only lek coins available; 1, 3, 5, 10, 20 and 50 lek, as well as banknotes, which are available in denominations of 1, 3, 5, 10, 20, 50 and 100 lek.
We are an international business and work with companies around the world, especially California in the US and Australia. Our providers are based in different countries so we need to be constantly up to date about the current foreign exchange rates. Otherwise, we would be wasting money during the currency transfer process and obviously this is not what a business wants.
Comment written by Victoria Brown Wine Industry.
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