13/07/2015: Greek debt bailout agreement
A third bailout deal was reached between Greece and its creditors, avoiding a potential Greek exit from the Eurozone.
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.
02/05/2010: Greek debt crisis
Greece's financial crisis threatened the stability of the Eurozone, requiring massive bailout packages to prevent a default.
15/10/2008: Global financial crisis
The Euro faced significant economic challenges following the collapse of Lehman Brothers, leading to a recession in many Eurozone countries.
01/05/2004: Eurozone expansion
10 more countries joined the Eurozone, bringing the total number of participating countries to 24.
01/01/2002: Euro banknotes and coins
Physical banknotes and coins in Euro were introduced, replacing national currencies in 12 European countries.
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.
01/01/1999: Introduction of the Euro
The Euro was officially introduced as an electronic currency for banking and financial transactions.
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.
07/02/1992: The Maastricht Treaty
The treaty was signed, which officially established the European Union and laid the groundwork for the creation of the Euro.
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.
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.