5 minutes ago74 years from issue of Albanian money
Periskopi(7 years ago)
(7 years ago)Today, 74 years are complete since the Albanian State Bank on 22 June 1945 announced the sealing of bank notes and hammers issued by Albania's former National Bank. After World War II and the promotion of the Democratic Government in Albania, the first signs of inflation began to appear and the deterioration of the credit card status, which [...]
After the War World II and the promotion of the Democratic Government in Albania began to appear the first signs of inflation and the deterioration of the credit card status, which came from the inability to print new bills and replace it in circulation. Waiting for the normalisation of the situation, on June 22, 1945, the Albanian State Bank announced the sealing of banknotes in circulation, as well as hammers issued by Albania's former National Bank.
The currency stamp took place throughout the country from June 27th to July 8, 1945, starting in border areas. It would be only for 20 and 100 Albanian francs, as well as Czechs worth 20, 100, 500, 1000 and 5,000 Albanian francs. The seal was the shape of a rectangular, measuring 5243 mm, which carried inside a two-headed star eagle on it, and the words “Bank of the Albanian State”, all lined with parallel horizontal lines, where eagles and scriptures are in shadow.
The Bank of Albania suggests that, stamping the bills was made without much restraint. Bills and hammers that did not appear for sealing were deemed worthless and, as a result, went out of circulation.
According to the BSH, the sealing of bank notes and hammers of Albania's former National Bank had significant effects on monetary circulation. It left out about 20% of the currency in circulation, after no ballots were sealed under 20 Albanian francs. At the end of 1945, the show reached 286,000 Albanian francs from 384,396,000 in late 1944.
