The creation of money and the emergence of currency in each country did not take place over one hundred years. Nowadays, on metal coins and banknotes, you can find images of prominent figures, attractions, animals and flowers. Along with other countries, Albania has its own monetary unit.
History of Albania
The modern history of Albania began after the end of the First World War. In 1920, the National Congress of the country declared its independence. In the same year, the city of Tirana was appointed the capital and the first currency of Albania was created. And in 1928, the king was proclaimed in the country, who ruled until 1939. This year, fascist troops were entered into Albania, and the country completely came under Italian control.
In 1944, the country was liberated from the invaders by the forces of the liberation army. A communist regime was established on the territory, which lasted until 1985. Then came the time for the democratization of the country, joining NATO and the application for entry into the European Union. All this time, the national currency of Albania has not changed.
The emergence of the Albanian currency
For a long period, each region of the country printed its money. It was difficult to determine which currency was in Albania, since each issue had its own images and security system. Such a chaotic movement of money, where each of the monetary units had its own denomination and designation, led to the crisis in the country. During this period, the government decides to issue banknotes of a single sample for the whole country.
Albania also needed its own monetary system, which was developed for a long time. As a result of the work, the currency of Albania became known as the lek. Over time, all old bills were replaced with new ones, which were distinguished by high quality workmanship, beautiful design and a good security system.
Banknote Description
The currency of Albania has in use 6 types of banknotes of different denominations. On one side of the banknote are portraits of famous people who have contributed to the history and development of the country. They are visible on watermarks. The reverse side shows the historical places that are associated with the people depicted in the portrait.
Thus, on a bill of 100 lek you can see Bishop Theophan Noli and the parliament building. Everything is made in purple and orange. A banknote of 200 lek introduces us to the Albanian poet Naim Frasheri and his house in brown and yellow. 500 lek are painted blue and have the image of a historical person, Ismail Kemali, and the building in which the independence of the country was proclaimed.
Next are the large denominations. The bill in 1000 lek is made in green colors. On one side is depicted Peter Bogdani, on the other a church located in Vau Dejes. The magenta color has a 2000 lek banknote. On it you can see King Ghent and the remaining ruins of the amphitheater. The largest denomination that the currency of Albania has today is a bill of 5000 lek. It is made in brownish-yellow tones and has on one side the image of George Castrioti, and on the other - the fortress of Kruia.
Coin Description
Also in everyday life there are coins. On the one hand, on all the denomination is depicted, which is framed by ears of wheat. The reverse side has various patterns. An impression of a rare bird of a pelican is shown on 1 lek; on a 5 lek coin, it was decided to draw the national emblem. 10 leks will introduce you to the fortress, which is already 13 centuries old, and it is called Berat. A 20 lek coin depicts a ship of Libourne. This is a large military ship, on which the military of the Roman Empire sailed across the seas. On a coin of 50 lek - King Gentiy.On the reverse side of the coin with a face value of 100 lek is a historical figure, Queen Teutus.
The course and movement of money in Albania
The currency in Albania, whose exchange rate against the dollar and the euro is low, is popular only in its country. Moreover, the traveler or guest will be able to pay only in cash. There are few establishments in Albania that accept checks and credit cards. Therefore, it is recommended to immediately change the required amount of money in the bank.
The central financial institution in the country is the Bank of Albania, which is owned by the state. He is the assignee of a pre-existing credit organization. The first attempts to create a financial system led by a bank were made back in 1913, but for a number of reasons, one of which is war, the system was constantly collapsing.
After the establishment, they were created in 1925 and reorganized in 1945. During the communist regime, the bank was completely controlled by the secretariat and reorganized again after the declaration of independence of the state. A modern financial institution was established in 1992 and operates regularly carrying out reforms and improvements to this day.
In Albania, in addition to the national currency, American dollars and euros are also common. In 2009, an application was submitted for entry into the European Union. At this stage, the country fulfills a number of conditions for successful accession.