04/02/2021: Ending of Intervention Policy
Denmark's central bank announced the end of its long-standing policy of defending the Krone's peg to the Euro.
31/12/2011: Replacement of 1 Lek coin
The 1 lek coin was demonetized and replaced by a banknote. The decision was made due to the high cost of producing the coin.
19/09/2000: Referendum on Euro Membership
Danish voters rejected adopting the Euro in a referendum, maintaining the Krone as the national currency.
08/02/2000: Introduction of new banknotes and coins
A new series of banknotes and coins were introduced, featuring enhanced security features and updated designs.
31/12/1998: Euro peg
Denmark joined the European Exchange Rate Mechanism (ERM II), pegging the Krone to the Euro with a narrow fluctuation band.
02/03/1997: Collapse of pyramid schemes
The collapse of pyramid schemes in Albania caused a severe economic crisis, resulting in hyperinflation and a significant devaluation of the lek.
26/06/1992: Transition to a market economy
Albania transitioned to a market economy, leading to a significant depreciation of the lek. The exchange rate changed to 1 lek = 9.3 old lek.
24/03/1982: Floating Exchange Rate
Denmark switched to a floating exchange rate regime, allowing the Krone's value to be determined by market forces.
01/10/1965: Introduction of the new lek
A new series of banknotes and coins were introduced, marking the transition to the new lek. The exchange rate was set at 1 new lek = 10 old lek.
22/12/1947: Albania becomes a communist state
Following the establishment of a communist regime in Albania, the currency underwent a major devaluation, with the exchange rate changing to 1 lek = 12.5 old lek.
21/07/1944: Bretton Woods Agreement
Denmark became a member of the International Monetary Fund (IMF) and agreed to the Bretton Woods system, pegging the Krone to the US dollar.
10/09/1927: Return to Gold Standard
Denmark abandoned the gold standard due to economic pressures and public debt.
01/09/1926: Introduction of the Albanian lek
The lek was introduced as the official currency of Albania, replacing the previous currency, the Turkish lira. The exchange rate was set at 1 lek = 35 Turkish lira.
31/12/1872: Pegging to Gold Standard
The Danish Krone was pegged to the gold standard, fixing its value in relation to gold.