Albania’s central bank to issue new high-denomination banknote

Albania’s central bank to issue new high-denomination banknote
The new notes will feature poet Aleksandër Stavre Drenova, better known by his pen name Asdreni.
By bne IntelliNews December 10, 2017

The Albania’s central bank has announced it will issue a new ALL10,000 (€74.9) banknote.

The new ALL10,000 banknote will have the highest value issued so far, as the current biggest value is the banknote of ALL5,000.

The decision was taken by the central bank's supervisory council on December 6, the central bank said in a statement. While use of payment cards is increasing, Albania is still to a large extent a cash economy. 

The new banknote will display the portrait of the famous Albanian poet Asdreni combined with the symbols of the national flag and anthem.

The banknote will be put in circulation staring from beginning of 2018.

The new note was issued despite low inflationary pressures in Albania, where inflation declined in Q3 according to the central bank, edging down to average 1.7% during the quarter. Harmonised Index of Consumer Prices (HICP) inflation, meanwhile, rose 3.2% y/y in October. 

 

Related Articles

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

Albanian banks’ profits reach ALL28bn in 2023

Albanian banks reported profits of ALL28.5bn (€271.7bn) in 2023, according to data from the Albanian Association of Banks. All banks in the country reported a profit for the year.  The most ... more

Dismiss