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.
Russia’s second-largest bank state-controlled VTB posted a 33% year-on-year decline in net IFRS profit to RUB61.3bn, according to a report by the bank. VTB still plans ... more
Fitch Ratings has issued a note highlighting “tangible” progress in the past four years in the reform of Uzbekistan's ... more
The European Bank for Reconstruction and Development (EBRD) has allocated a €75mn for risk-sharing facility to Privredna banka Zagreb (PBZ), a part of the Intesa Sanpaolo Group, as part of a new ... more