The European currency falls 'downhill' again, here are the sectors that brought the most euros to Albania

The national currency is challenging all other currencies.

Two months after the end of the summer tourist season, when the flows of foreign vacationers are highest, the euro has lost points, being exchanged at 103.90 ALL. That's the lowest level since mid-August and a 7% drop from a three-month peak.

The indicators of the external balance of the Bank of Albania show that the difference of money that entered and left the currency narrowed to 323 million euros, while more foreign investments, remittances and money from tourists came during this year.

Another influencer is the low supply of lek in circulation. The government issued a Eurobond this year of 600 million euros, while the surplus in the budget reached a record value of 51 billion lek. Even the increase in the base rate by BSH has also brought an impact on the market.

The devaluation of the euro by 15% during this year has made a strong contribution to the reduction of the public debt to the level of 64%, but on the other hand it has hit exports and budget revenues, where 110 million euros less were collected from VAT on imports in 9 months.

The Bank of Albania in the monetary policy report predicted that the euro will stabilize at these levels in the following period.