The basic unit of currency for Albania is the Albanian Lek (L). The Lek is abbreviated as ALL, derived from the Albanian word "lekë" which means "money".

Established in 1926, the Albanian Lek has been the official currency of Albania, replacing the Ottoman Turkish piastre. The currency underwent several changes in its history, including a period of hyperinflation during the early 1990s when Albania transitioned from a communist regime to a democratic society.

Today, the Lek is issued by the Bank of Albania, the country's central bank, and is available in banknotes and coins. Banknotes come in denominations of 200, 500, 1000, 2000, 5000, and 10,000 Lekë. Coins are available in values of 1, 5, 10, 20, and 50 Lekë.

As Albania's legal tender, the Lek is widely accepted throughout the country. It is the only currency accepted for transactions and payments, making it essential for tourists and residents alike to exchange their foreign currency for Lek if they plan to spend money in Albania.

When visiting Albania, it is advisable to exchange currency at authorized exchange offices, banks, or ATMs to ensure you receive the most accurate exchange rates. Carrying cash in Lek is generally recommended, as some smaller establishments may not accept credit or debit cards.

The exchange rate of the Lek can fluctuate against other major currencies, such as the Euro or the US Dollar. It is essential to stay informed about the current exchange rates to ensure you get the best value for your money.

Overall, the Albanian Lek serves as the primary means of financial exchange within Albania. Whether you are a local resident or a visitor exploring the beautiful landscapes and historical sites, understanding the basic unit of currency is crucial for a smooth and enjoyable experience in Albania.

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