Euro, falling at a fast pace as in July, the dollar is also on the 'point'

The euro is depreciating at a fast pace, approaching the levels of July, the month in which it touched the lowest historical level. At the rate of the Central Bank, in the middle of November, the European currency is being exchanged at an average of 104.1 ALL, losing 0.2 points from last week.

The effect of the strengthening of the Lek with the Euro in our market also affects other currencies, where it can be seen that the American dollar has dropped below 97 Lek, from the 100 Lek that was exchanged at the weekend. With these positions, foreign currencies are at the lowest values ??of the last three months. High flows from tourism and foreign direct investment have significantly improved the Balance of Payments this year, and these are considered key factors in the current state of the exchange rate.

Just as it happened last year, the euro-lek exchange rate continues to fall even after the summer season. If last year the strengthening of the Lek was somewhat restrained by high electricity imports, the impact of this factor during the year is much lower. Recently, the Bank of Albania also undertook a tightening move, increasing the base interest rate for the first time since March. The base rate has already reached 3.25%, the highest level in the last decade.