The Albanian lek is the official currency of Albania and the principal medium of exchange within the country. Its ISO 4217 code is ALL, and the name is commonly written as "lek" in English; the Albanian plural form is lekë. For general information about the country and its institutions, see Albanian lek.

Structure and denominations

The lek is a decimal currency: 100 qindarka make one lek. Qindarka coins and notes were originally minted but are no longer circulated in everyday commerce. Modern monetary supply consists of coins and banknotes issued in practical denominations for small to large transactions, with coins used for low-value payments and notes for larger amounts.

History and origin

The lek was introduced in 1926 during the reign of King Zog I as part of a national monetary reform. Its name is derived from an Albanian form of Alexander, referring to Alexander the Great, a historical figure of regional significance. Since its creation the lek has undergone several redesigns and technical updates corresponding to political and economic changes in Albania over the twentieth and twenty-first centuries.

Design and issuance

Banknotes and coins bear national motifs: portraits, monuments, cultural and historical imagery, and security features typical of modern currencies. The Bank of Albania (Banka e Shqipërisë) is responsible for issuing legal tender and managing currency circulation and anti-counterfeiting measures.

Uses and practical notes

The lek serves as legal tender for all domestic transactions, pricing, wages and savings within Albania. Foreign visitors typically exchange currency at banks, official exchange offices or use cards where accepted; in rural areas cash in lek is predominant. The currency’s value fluctuates on foreign exchange markets and is influenced by broader economic conditions.

Notable facts and distinctions

  • The formal subdivision, the qindarkë, exists in principle but is largely obsolete in daily use.
  • Pluralization in Albanian differs from English usage: one lek, many lekë.
  • Commemorative and special-issue coins have been released to mark anniversaries and cultural events.

For further official details on banknotes, coins and monetary policy, consult materials published by the central monetary authorities or reliable financial references. See also Albanian lek for related context.