The lek continues to strengthen in September, what is happening with foreign currencies

The Lek gained ground this week in the exchange rate with the Euro. According to the official exchange rate of the Bank of Albania, the European currency was exchanged at 106.37 ALL on Friday. The Euro-Leka exchange rate has fallen to the lowest level since August 18, which was 106.01 Leka.

While the American Dollar fluctuates below 100 Lek, but nevertheless on Friday according to the official exchange rate of the Bank of Albania, it recorded a slight increase and was exchanged for 100.04 Lek.

Most other currencies are also following the fall of the Euro. The British pound dropped to 122.44 Lek, the lowest level since mid-August. The Swiss franc dropped to 110.40 Lek, also at the lowest level in a month.

The month of September is confirming the strong positions of the Lek in the foreign exchange rate. Although the peak tourist season has passed, the European currency has not achieved a sustained recovery. Between August 23 and 25, the Euro exchange rate gained almost five points within a few days, reaching the level of 110.67 Lek.

But as has happened several times this year, the strengthening of the Euro has turned out to be very short-term.

Experts believe that the effect of tourism on the exchange rate is now more extended in time. If, until a few years ago, these effects mainly extended during the months of July and August, the extension of the season has caused the seasonal impact to extend into September as well.

Even according to them, even in the following months, the Euro will not be able to strengthen and catch the previous exchange rate of over 120 Lek. Experts predict that the maximum exchange rate of the Euro for the remaining months of this year is expected to reach the level of 112-113 Lek.