ALBANIA

CURRENCY:

LEK (plural lekë). It is subdivided into 100 qindarka (singular qindarkë) – however qindarka are no longer issued. Symbol for the LEK is ALL.

DENOMINATIONS:

NOTE: lek 5,000, 1,000, 500, 200 and 100.

COIN: lek 100, 50, 20, 10 and 5.

US DOLLAR ACCEPTED:

Yes, widely. Both US Dollar and Euros can be changed in shops.

CREDIT/DEBIT CARDS AND ATMS:

Majority of towns have ATMs.

TRAVELLER'S CHEQUES:

Travellers Cheques are not accepted in any shops restaurants or hotels in Albania. They are therefore not recommended as they can only be cashed in Tirana.

CURRENCY RESTRICTIONS:

Restrictions apply.

For import, the lek is prohibited but with foreign currencies there are currently no restrictions.

For export, the lek is also prohibited, and foreign currencies are currently allowed. These must be up to the value of USD5,000 or up to the amount of the import declared on arrival.

BANKING HOURS:

Mon - Fri 0800-1400.

COUNTRY OVERVIEW:

Officially the Republic of Albania, the capital is Tirana. 600,000 of the population reside in the capital, which is also the financial capital of the country. Albania has is a parliamentary democracy since 1992.

POPULATION:

Around 3.6 million.

ECONOMY:

Albania is a 'transition economy'. Following free-market reforms, the country is now able to engage in foreign investment. This is mostly focussed on energy and transport. Most of the population endure financial hardship. The government have made concerted efforts to reform the economy, including the introduction of legal measured to regulate market economy. Other reforms included rights such as freedom of press and of property. Tourism is growing rapidly and is providing ever more strength for the economy. Main elements for the improvement of the country's infrastructure include natural gas distribution, telecommunications, electricity generation and airports.