30/10/2016: Withdrawal of the 1000-krone banknote
The Norges Bank phased out the 1000-krone banknote, as part of efforts to combat money laundering and reduce the use of cash in the economy.
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.
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: Creation of the euro
Several European countries introduced the euro as a common currency, but Norway chose to maintain the krone, cementing its separate monetary path.
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.
19/11/1992: Norway rejects European Union membership
In a referendum, Norway voted against joining the European Union, reaffirming its independent monetary policy and keeping the krone outside the eurozone.
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.
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.
22/10/1931: Devaluation of the krone
To counter the effects of the Great Depression, Norway devalued the krone by 14%, aiming to boost exports and stimulate the economy.
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.
01/11/1920: Krone's return to the gold standard
Following the end of World War I, Norway reintroduced the gold standard for the krone, stabilizing its value and restoring confidence in the currency.
02/08/1914: Suspension of krone's gold standard
Due to the outbreak of World War I, Norway suspended the krone's convertibility into gold, allowing for more flexibility in monetary policy during the war.
27/10/1875: The introduction of the krone currency
The krone was established as the official currency of Norway, replacing the previous speciedaler, marking a significant milestone in the country's monetary history.