AlbanianEconomy.comYour News from Albania
Albania to replace its two smallest bills with coins
Tirana / 14 April 2008 / AE News – Citing lack of durability for its widely used 100 and 200 lek paper money, Albania’s central bank has announced it will replace its two smallest bills with coins by the end of this year.
At current exchange rates, 1 euro buys 122 leks and 1 American dollar about 77 leks.
Removed from circulation, these two bills would be able to be exchanged at full value in banks until Dec. 31, 2010.
The bills in question carry the images of Albania’s first head of state, Ismail Qemali, and Fan S. Noli, Albania’s former prime minister in the 1920s. There is no word yet on the look of the new coins.
Albania already uses coins for denominations of 50, 20, 10 and 5 Lek (ALL).
Bank of Albania also plans to issue a new bill next year – its first ever 2,000 lek note. The country’s highest note is 5,000 lek.
