ALL to CHF

ALL - Albanian Lek (Lek)

Albanian Lek

The official currency of Albania is the Lek (ALL). The currency symbol for the Lek is L. The lek is divided into 100 qindarka; however, the qindarka is no longer produced. In 1947 the Lek was chosen as the main denomination. So far, four editions of the Lek have been printed by Albania.

The Albanian Lek is the currency in Albania (AL, ALB). The symbol for ALL can be written L. The Albanian Lek is divided into 100 qindarka (qintars). The exchange rate for the Albanian Lek was last updated on May 24, 2019 from Yahoo Finance. The ALL conversion factor has 4 significant digits.

Economy

• Although Albania is seen as a poor country, their economy is improving at a fast rate.
• According to the International Monetary Fund (IMF), Albania showed 2.8% economical growth in the year 2009.
• Agriculture products are vegetables, fruit, grapes, dairy products, potatos, maize, wheat, and sugar beets.
• Albania relies on the import of most goods and the country does not do much export.
• Currently Albania’s economy is undergoing macroeconomic restructuring, which is led by the World Bank and the International Monetary Fund (IMF).
• The tourism industry is booming and it is starting to contribute a huge amount to the country’s GDP.
• In 2008, oil and gas were discovered in Albania, which are helping to improve the country’s economic status.

History

• In 1926, the Lek was introduced by the Albanian King Ahmet Zoghu. Bronze, nickel, and silver coins were minted and distributed in denominations of 5 and 10 qindar.
• In 1956, the Lek was redistributed and was available in denominations of 1 lek and 5 qindar, 10 qindar, 20 qindar, and 50 qindar.
• In 1991, and 1992 the Lek was reintroduced with added denominations of 200, 500, and 1,000 Lek notes.
• In 1997, a newly printed series of Lek banknotes were made available.
• Since 2002, there have been special issues of the Lek; for example, in 2005 the 50 Lek was designed for the 85th anniversary of the capital Tirana.

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CHF - Swiss Franc (SFr.)

The Swiss franc is the currency of Switzerland. The most popular Swiss franc exchange is with the euro. The franc is represented by the sign ‘Fr’ or ‘SFr’ or ‘FS’, and its currency code is CHF. The Swiss franc is fiat currency, and its conversion factor has 6 significant digits. The Swiss franc is called franken in German, the franc in French and Romansh, and the franco in Italian.

The official currency of Switzerland is the Swiss Franc (CHF). The Swiss Franc is the only Franc still issued in the European countries. The Franc is subdivided into 100 centimes. The symbol used for the Franc is Fr. Banknotes are issued by the Swiss National Bank and coins are issued by the Swiss Mint.

The Swiss Franc is the currency in Switzerland (CH, CHE), and Liechtenstein (LI, LIE). The symbol for CHF can be written SwF, and SFr. The Swiss Franc is divided into 100 rappen (centimes). The exchange rate for the Swiss Franc was last updated on Today from The International Monetary Fund. The CHF conversion factor has 6 significant digits.

Economy

• Switzerland’s economy is seen as a safe haven and is rated as the safest economy in the world.
• The economy is dependent on foreign investments.
• The unemployment rate is estimated at 3%.
• The main industries are watches, chemicals, textiles, machinery, and precision instruments.
• Export products are agricultural products, metals, chemicals, watches, and machinery.
• Import products are vehicles, metals, textiles, machinery, and agricultural products.
• Switzerland’s tourism infrastructure is highly developed.
• Approximately 28% of all offshore funds are banked in Switzerland.
• The country is neutral and is not part of the European Union.

History

• In 1848, Switzerland declared that the Federal Government of Switzerland will be the official issuer of the Swiss Franc.
• In 1850, the first Swiss Franc was introduced; it was on par with the French Franc.
• In 1865, Switzerland became part of the Latin Monetary Union, which consisted of France, Italy, Switzerland, and Belgium.
• Switzerland decided to become part of the Brent Wood System in 1945. The Franc was pegged to the US Dollar at 4.375 Francs = 1 USD.
• From 2003 to 2006, the Swiss Franc was stable against the Euro.
• In 2008, the Swiss Franc was valued higher than the USD.
• In 2010, the 9th series of Francs was introduced.
• In 2011, the European Union stated that the “Franc is a threat to the economy” and this caused the Franc to plunge.

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