| Lek (currency) |
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The Lek (plural ''lekë'') is the Currency used in Albania ; it is worth about 1 U.S. Cent or Japanese Yen . (.974 US cents as of June 14 , 2005 ) ISO 4217 Currency Code : ALL. It is divided into 100 qindarka. HISTORY The lek was introduced in 1926. At first, there were four denominations in circulation. The lek was worth 100 ''qindar leku'' whilst the ''franga (franka) ar'' was worth 100 ''qindar ar'' or five lekë. The lek was equivalent to the Italian Lira . After the Second World War , only the lek and qindarkë (equal to the qindar leku) were issued. In 1965 and 1991, new lek were introduced, the first at an exchange rate of ten to one, the second at a rate of fifty to one. NAMES The name lek derives from the popular abbreviation of Alexander The Great (Leka i Madh). The name qindarkë name comes from the Albanian ''qind'' (hundred). Qindarke carries the same meaning as cent. COINS All coins have on the front side the value with branches. The reverse has various designs with the inscription "''Republika e Shqipërisë''" (Republic of Albania) and the year of production.
BANKNOTES There are various series of these in circulation.
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