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Reprinting of banknotes, what denominations will be issued this year?

2024-04-06 10:08:06Biznes SHKRUAR NGA REDAKSIA VOX

The Supervisory Council of the Bank of Albania has approved the reprinting of legal tender Albanian banknotes in denominations of 200 ALL and 500 ALL. According to the Bank of Albania, this decision envisages meeting the economy's requirements for money, in value and structure, as well as ensuring a regular supply of them, for a period of several years.

As is known, the issuance of banknotes brings great benefits to individuals and financial organizations, improving security, facilitating transactions and facilitating the management of personal finances.

The release of the last two denominations of the new series in 2022 helped to fully introduce it into the economy. The issuance of a new series of banknotes and its addition to the 10,000 ALL banknote have been successful in meeting the requirements of the Albanian economy in terms of value and structure.

According to the Bank's annual report, during 2023 the value of national currencies in circulation reached 408 billion ALL or 6.8 billion ALL more than a year ago. An exponential increase is observed, as compared to the end of 2022 we find a decrease of 3% in the number of banknotes in circulation. This decrease and increase in their value in circulation has come about due to the improvement of the structure in circulation, which is related to the increase in the number of banknotes of large denominations, mainly 10,000 and 5,000 ALL.

On the other hand, during 2023, about 104.5 million pieces of banknotes were processed against 100.8 million pieces in 2022. They were simultaneously checked for authenticity and suitability for recirculation.

Issuing and circulating the national currency "lek" is the exclusive duty of the Bank of Albania. It defines the shapes, weights, measures, model and other characteristics of the Albanian banknotes and coins, with legal tender within the country.


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