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When was the first Albanian money printed?

  • 11/13/2020 3:22 PM
When was the first Albanian money printed?

Until 1926, Albania did not have a national currency and as a result it legally used foreign currencies, which created many problems in the country's economic exchanges or public accounts, due to the lack of exchange rate.
The establishment of the National Bank of Albania foresaw the printing and market introduction of the Albanian currency, Gold Franc with his sub-branches Lekë and Qindarka. 1 Gold Franc was equal to 5 Lekë.
In the process of printing Albanian banknotes and coins, some of the companies of the time, known for this service, got engaged.
Bradbury Wilkinson & Co. would be selected for the 5 denomination, 20 denomination and 100 franc denomination banknotes. Ltd. " in London, while for the 1 franc (5 lek) banknote, "Richter & Co" in Naples would be selected.
There was also a problem with the first 5 lek. Researcher Haxhi Shkoza writes that the 1 franc (5 lek) banknotes printed by "Richter & Co" were quickly removed from circulation. The reason was the fact that the banknote had as identification element the Roman eagle with 1 head and not the Albanian one with two heads.
As for other banknotes, the London-based company would initially print an amount of 5,000 gold francs, divided into 20-franc denominations, which would be put into circulation in the Albanian market in 1926.
The 20 franc denomination would be the most widely used in Albania until the 1930s, accounting for 62% of the cash flow rate. Then the ratio would change, where denomination of 100 francs would take more "place" in the circulation of money in the country.
As for the Albanian coins, they were based on the models of Giuseppe Romagnoli who at that time ran the medal school and the Italian state securities office. Albanian coins would be engraved by "Motti.inc" in Rome.

/Klara Ruci/