Currencies/Albanian lek

Introduction

The Albanian lek (Albanian: lekë, singular lek) is the official currency of Albania. It was introduced in 1926 during the reign of King Zog I. The ISO code is ALL, the symbol is L, and historically it was subdivided into 100 qindarkë.

History

Introduced on 16 February 1926 alongside the franga ari and initially linked to the gold standard, the lek passed through several political periods. It circulated under the monarchy through 1939, continued during the Italian occupation (1939–1943) when the lira also appeared, then into the People’s Republic (1946–1991) under the State Bank of Albania, and finally the Republic era (1991–present) under the Bank of Albania. Across these transitions the lek remained Albania’s legal tender, with designs, metals, printers and mints changing as the state’s institutions and external partnerships evolved.

Coins

Lek coinage spans from the early Republic/Kingdom years and King Zog I issues to the occupation period, the socialist decades, and modern republic issues. Beyond normal circulation, Albania has produced commemoratives, mint and year sets, presentation pieces, patterns and occasional piedforts. Forms are predominantly circular, with a few experimental shapes including round-hole pieces and set-only variants.

Manufacture reflects broad international collaboration, with production at IPZS Rome, Arezzo, Belgrade, Budapest, Kremnica, Monnaie de Paris, Austrian Mint, Royal Dutch Mint, Mint of Poland, Royal Canadian Mint, and others.

Compositions include aluminium, brass, bronze, copper-nickel, plated steels, Nordic gold, bimetallics, as well as silver, gold, palladium and platinum for numismatic issues. Denominations extend from 0.05, 0.10, 0.20, 0.50, 1 up to 500 and special higher commemorative values.

Banknotes

Paper money developed through series such as the 1926 “Franga Ari” issue, 1940–1942 lek notes, 1945–1949 reforms, and socialist-era issues (1957, 1964, 1976). After the fall of communism, republic-era notes (1991–present) introduced higher denominations, with new families in 2001, 2007–2015, and 2017–2020.

Produced in paper and polymer, these notes appeared as circulation money, proofs, specimens, replacements, and special bonds. Denominations include 0.05, 0.10, ½, 1, 2, 5, 10, 25, 50, 100, 200, 500, 1,000, 2,000, 5,000, and 10,000 lekë.

Stamps

Albanian lek postage has encompassed commemorative, definitive, air post, semi-postal, and postal tax categories. Values range from 0.05 lek up to thousands, including combined and multi-value sets.

Series themes include historical anniversaries (Independence, Liberation, League of Prizren), national figures (Skanderbeg, Mother Teresa, Ismail Kadare), cultural and ethnographic topics (folk costumes, dances, handicrafts), flora and fauna, archaeology, aviation and space, as well as international programmes such as Europa/CEPT and UN-related issues. Modern productions appear on paper and polymer, with proofs, specimens and replacements also known.

Tokens

Albania has issued commemorative medals and replica coins functioning as tokens. Typically struck in copper or copper-nickel, these are shaped as coins or medals with values such as 5 or 16.50, primarily for presentation and numismatic purposes.

Replacement and Continuity

Unlike the franga, which was abolished in 1946, the lek has remained Albania’s national currency since 1926, adapting through redesigns, metallurgical changes and new security features across successive regimes.

Legacy

The lek encapsulates Albania’s monetary evolution from monarchy and occupation through socialist governance to the modern republic. Its coins, banknotes, stamps, tokens, lottery tickets, magazines, philatelic products, phonecards, transport tickets, functional cards, and comics illustrate institutional change, cultural policy, and technical development from the interwar period to the present.