58 years ago, how the exchange of the "old Lek" with the "new Lek" began

2023-08-17 12:38:30Biznes SHKRUAR NGA REDAKSIA VOX
58 years ago, how the exchange of the "old Lek" with the "new Lek" began

58 years ago, namely on August 16, 1965, the exchange of the old Lek currency with the new Lek currency began.

The exchange was made in the ratio of 10 old lek to 1 new lek, without any restrictions, from August 16 to October 15, 1965. The Bank of the Albanian State was authorized to gradually remove from circulation the coins and banknotes of 1947, 1949 and 1957, and to put into circulation the new Lek currency, in banknotes with denominations of 100, 50, 25, 10, 5, 3 and 1 Lek and metal coins of 1 Lek, 50, 20, 10 and 5 Qindarka of 1964. Banknotes with the same appearance were reprinted in 1976, changing only the year of issue.

From August 16, 1965, the prices of goods and services, wages, pensions, scholarships, taxes and fees and any other financial transactions between enterprises, institutions and state, cooperative and social organizations or citizens were calculated with the new currency, according to the report 10 to 1.

The public had great difficulty naming the new lek its true value.

For example, he continued to call the new 10 Leksh note 100 Leksh.

In order to change this mindset that accompanies us since the monetary reform of 1965, the Bank of Albania has undertaken a national public awareness campaign with the theme "Neither old nor new, I'm just a Lek!".

This campaign aims to draw the public's attention to the correct reading of the nominal value written on national Lek coins and banknotes, without adding 0 or unnecessary qualifiers such as "new" or "old".