Tensions in the North/ KFOR reveals who was behind the violent protests in Zve?an and makes a strong appeal to Serbia
Here is who is the deputy who revealed Berisha's plan to prevent Lulzim Basha from taking over the leadership of the blue headquarters, behind the scenes from the PD Presidency meeting
It has never happened before, the euro and the pound break historical records, today they reach the bottom
The murder of Pjerin Xhuvani, this is what happened today with the trial of Arbë Paplekaj
"He took them for Vis", new details are revealed from the theft of license plates that sank the soldier of Martinaj
Albania's draft proposal for the Association receives an immediate response from the EU
"Diplomacy has turned into a place of gossip"/ The PD deputy 'stabs' the candidate for ambassador to Israel: I don't see you for this post, your CV...
Helped in the assassination attempt at Fatjon Murat's bar, the Court gives the verdict for Vis Martinaj's soldier
What is happening with the euro? The European currency continues its drastic decline, approaching historical minimum values ??(Chart)
Written by SOT.COM.AL 24 Maj 2023
The euro is losing points at a steady pace in the exchange rate with the Lek.
According to the official exchange rate of the Bank of Albania, the European currency was exchanged on Wednesday at 110.78 lek, down almost one point since the end of last week and almost three points from the maximum level of 113.43 lek reached after the local elections, on date 17 May.
After a quick but short-lived rally in the days following the election, the euro is now heading back to historic lows. The Euro touched the lowest value of all times in the exchange rate on May 11, when it was exchanged for ALL 110.63.
Market agents partly explained the strong decline in the first part of May with currency flows possibly related to the local elections.
However, even after the elections, the exchange rate is oriented towards the same values, which, according to experts, proves that the currency supply in the country remains high. An increase in foreign exchange flows in this period can be expected due to the approach of the tourist season and an increasing impact of tourism, especially that of weekends.
However, high inflows of currency and lek in strong positions are no longer a new trend in the foreign exchange market. According to exchange agents, since last year the market has been characterized by abundant foreign currency inflows and a weak demand for the European currency.
The Bank of Albania argues that the strengthening of the lek against the euro relies on the improvement, in real terms, in the balance of payments over the last few years. The increase in income from tourism, services and remittances has narrowed the current account deficit, while the high values ??of foreign direct investments have compensated and exceeded this deficit.
Such a situation has led to the continuous strengthening of the lek in the exchange rate against the euro, a strengthening that, starting last year, may have been prompted by a more restrictive nature of the monetary and fiscal policy in the country. Today, the lek is overvalued against the euro by 7.7% compared to the same period a year ago.
Pozitat e forta të lekut në kursin e këmbimit kanë pak gjasa të ndryshojnë në një horizont afatshkurtër. Përkundrazi, nëse u besojmë të dhënave historike, gjasat janë ky forcim të vazhdojë më shumë gjatë muajve të verës, kur prurjet nga turizmi arrijnë pikun.
Bazuar në statistikat historike, euro e arrin vlerën më të ulët të sezonit veror mes fundit të muajit korrik dhe fillimit të muajit gusht. Bazuar në këtë tendencë, është shumë e mundshme që rënia e euros ndaj lekut këtë verë të shënojë rekorde të reja historike.
Kjo situatë do të jetë e favorshme për të gjithë ata agjentë ekonomikë që kanë të ardhura në lekë dhe shpenzime në euro, si importuesit e mallrave dhe shërbimeve, apo huamarrësit në monedhën europiane.
On the other hand, the strong lek is expected to further test the exporting sectors of goods and services, as well as the beneficiaries of incoming foreign exchange flows, mainly families of immigrants, who receive remittances.
Source: Bank of Albania