Domestic currency counterfeiting declined last year to a historical low, according to the Bank of Albania.

The bank reports that the ratio of counterfeit banknotes for every 1 million banknotes in circulation last year dropped to 1 per million, from 1.3 per million in 2023. At the same time, this indicator has reached its historic low.

In 2024, 156 pieces of counterfeit national banknotes in circulation were seized, compared to 195 pieces in 2023, as well as 50 pieces of metal coins. Regarding the distribution of counterfeit banknotes by denomination, the 1000 Lek and 2000 Lek denominations hold the main weight, followed by the 5000 Lek denomination. The largest number of counterfeit banknotes belongs to the old series with 133 pieces, which accounted for 85% of the total, in contrast to the new series, which has high quality and strong security elements.

The Lek 50 metal coin continues to be the only counterfeited currency but in low and negligible quantities.

According to the Bank of Albania, from the technical or technological point of view of the phenomenon of counterfeiting banknotes, they are simple reproductions with commercial digital equipment, almost exclusively with the color ink-jet technique, accompanied by the application of technological artisanal techniques for imitating security elements, while security elements readable by machines or authentication devices are not encountered in any case.

The Bank of Albania recommends that the public be careful when exchanging banknotes, checking them for authenticity using the “Touch, Look and Move” method, also published on the official website of the central bank.

The national currency in circulation, during 2024, reached Lek 440 billion, with an increase of Lek 32 billion or 8% compared to the end of 2023. This amount was distributed in about 161 million pieces of banknotes. Compared to 2023, the number of banknotes in circulation has increased by about 4 million pieces or 2.5% more.

The increase in the number and value of banknotes in circulation reflects the shift in their structure towards large denominations, mainly Lek 10,000 and Lek 5,000. As a result, the average value of a banknote in circulation at the end of 2024 reached Lek 2,689, compared to Lek 2,566 in 2023.

As for coins, their number in circulation reached 291 million pieces, compared to 273 million at the end of 2023, with an increase of about 18 million pieces in circulation or 6.6%. The average value of a coin in circulation, at the end of 2024, reached Lek 25 per coin.

During 2024, after being checked for authenticity and fitness for recirculation, about 94.2 million banknotes were processed, compared to 104.5 million in 2023. The unfitness rate (the ratio of the number of unfit banknotes to the total number of banknotes processed during a year) was 21.5%, compared to 19.3% in 2023.

The banknote circulation coefficient for 2024 was 0.6, which means that a banknote is returned on average less than once a year at the counters of the Bank of Albania. This coefficient is higher for the Lek 500 and Lek 1,000 denominations (more than 1 time), and lower for the Lek 5,000 and Lek 10,000 denominations.