Upon the decree No. 445, dated 07.07.1947, "On taking out of the circulation the francs banknotes and the issuing of a new issue", as the currency base unit , Lek replaced Franc, and the new exchange ratio of banknotes was :

1 Franc year 1945 = 9 Lek year 1947

Upon this action carried out by the Albanian State Bank, in circulation were only banknotes of "Lek" denomination.