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The 1949 series of banknotes is put into circulation

2023-10-17 19:48:00, Ekonomi CNA

The 1949 series of banknotes is put into circulation

The Bank of Albania has put into circulation the series of banknotes of 1949.

The news was announced by the Bank of Albania itself, which also provides a little history about the withdrawal of these banknotes from circulation.

The statement states that the banknotes were changed due to policies to avoid the risk of damage to the economy after the break-up of Albania's relations with Yugoslavia.

"The 1949 banknote series is put into circulation

In November 1948, after the break with Yugoslavia, the Communist Party of Albania convened its first congress, in which the Albanian economic model was re-examined, to fully match that of the Soviet Union.

The 1949 series of banknotes is put into circulation

In this climate, the Albanian State Bank had the duty to avoid the risks that could arise from the fact that the Albanian currency in circulation was printed in Yugoslavia. For this reason, by order of the government, it took measures to print new currency in the Soviet Union. As part of these measures, in October 1949, the third monetary reform was announced, which simply represented a physical replacement of the coins of 1947, without any limit and in the ratio of 1 to 1.

On October 17, 1949, new banknotes began to circulate in the country in the same denominations as those of 1947, but with a changed appearance. Meanwhile, the metal coins in circulation continued to remain those of 1947: ½ Lek, 1 Lek, 2 Lek and 5 Lek.

You can find these banknotes and coins for sale in the Museum Store of the Bank of Albania ", says the statement of the Bank of Albania./ CNA





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