Albania’s central bank to issue new high-denomination banknote

Albania’s central bank to issue new high-denomination banknote
The new notes will feature poet Aleksandër Stavre Drenova, better known by his pen name Asdreni.
By bne IntelliNews December 10, 2017

The Albania’s central bank has announced it will issue a new ALL10,000 (€74.9) banknote.

The new ALL10,000 banknote will have the highest value issued so far, as the current biggest value is the banknote of ALL5,000.

The decision was taken by the central bank's supervisory council on December 6, the central bank said in a statement. While use of payment cards is increasing, Albania is still to a large extent a cash economy. 

The new banknote will display the portrait of the famous Albanian poet Asdreni combined with the symbols of the national flag and anthem.

The banknote will be put in circulation staring from beginning of 2018.

The new note was issued despite low inflationary pressures in Albania, where inflation declined in Q3 according to the central bank, edging down to average 1.7% during the quarter. Harmonised Index of Consumer Prices (HICP) inflation, meanwhile, rose 3.2% y/y in October. 

 

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