Author Topic: Albania to Issue 10,000 Leke Banknote  (Read 334 times)

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Offline Bimat

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Albania to Issue 10,000 Leke Banknote
« on: December 09, 2017, 07:55:53 AM »
Albania's central bank to issue new banknote

Source: Xinhua| 2017-12-08 19:49:50

TIRANA, Dec. 8 (Xinhua) -- The central Bank of Albania Thursday informed it had decided to issue a new banknote at a denomination of 10,000 leks (88 U.S. dollars).

"The Supervisory Council of the Bank decided on Wednesday to approve the model of the new banknote to be issued in early 2018," Bank of Albania said in a press statement.

According to the Bank, the new banknote will carry the portrait of the famous Albanian poet Asdreni.

It also features the symbol of the National Flag and a line from the National Anthem, known otherwise as the Anthem of the Flag "Around our flag we stand united/With one wish and one goal."

The Bank further informed that the Supervisory Council had also approved the other defined features of the new banknote like the name of the bank, the nominal value as well as the size of the banknote.

The new 10,000 leks banknote will be the banknote with the highest value as currently, Albania has the banknote worth 5,000 leks as its highest value banknote.

The need to have a higher value banknote was highlighted by the economy and banking experts about two years ago, however, the Bank of Albania decided now to issue the new banknote which will be put in circulation in 2018.

Source: Xinhua
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Figleaf

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Re: Albania to Issue 10,000 Leke Banknote
« Reply #1 on: December 14, 2017, 06:45:03 PM »
The high denomination surprises, especially when there is pressure from law enforcers to do away with such high values. A consequence of an less developed payment system, perhaps?

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Bimat

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Albania to Issue 10,000 Leke Banknote
« Reply #2 on: December 16, 2017, 04:59:35 PM »
The high denomination surprises, especially when there is pressure from law enforcers to do away with such high values. A consequence of an less developed payment system, perhaps?

Peter

The high denomination banknotes are again becoming popular in many parts of the world, in spite of problems they create. When ₹2000 note was introduced here last year, people complained about it, but now it's quite popular, especially for high value transactions. Less developed payment system is indeed a problem, but there is one more factor: digital payments cost more. People avoid using credit cards here as they have to pay ~2% extra as card fees.

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.