The Bank of Albania (BoA) put into circulation on Monday the new series of banknotes of 200 and 5,000 Albanian lek (ALL).
For the first time, the BoA is introducing the 200 ALL polymer banknote, a plastic material that is more resistant to wearing than paper, representing an innovation in the industry of money production.
During the past week, the BoA has organized an exhibition in the capital city Tirana to inform the public of the new design and security elements of the two banknotes launched on Monday.
A few days ago, Governor of the BoA Gent Sejko announced that the new Albanian banknote series consist of six denominations: 200 ALL, 500 ALL, 1,000 ALL, 2,000 ALL, 5,000 ALL and 10,000 ALL and the launching is planned to take place gradually.
Twenty years after the launching of the current series of ALL banknotes, the new series of banknotes come with a refreshed design.
According to the BoA, the new banknotes are more durable, made with high-quality material, project integrity and reliability, and follow standards similar to those applied in advanced countries. They are produced with cutting-edge technologies for banknote printing, with new security features, making them safer against counterfeiting.
The series of 1,000 ALL and 10,000 ALL banknotes will be put into circulation starting from 2020, the 2,000 ALL banknote in 2021, whereas the 500 ALL banknote will be put into circulation starting from 2022.
Meanwhile, the existing banknotes of all denominations will continue to circulate alongside with the new banknotes and serve as means of payment. (1 ALL = 0.00895 U.S. dollars)