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Ekonomia

Dollar with 'crazy' steps, unbelievable what is happening to the American currency

Dollar with 'crazy' steps, unbelievable what is happening to the

The US dollar has reached a new record in the foreign exchange market this Friday. According to the data of the Bank of Albania, one dollar is being exchanged at an average of 119.46 lek, or about 3 lek more than the euro, which today is exchanged at 116 lek.

This is the highest value since 2017, increasing by 12.6 ALL compared to the beginning of the year. The increase is even higher if we compare it with the same period a year ago, when the dollar was exchanged at 103-104 ALL.

Experts associate this strengthening of the American currency against the euro and the lek with the high demand in the market for the dollar, in order to import goods from abroad.

The high demand comes because the reference prices of goods on the stock exchange are quoted in dollars, especially fuel, which during this year has known a strong increase in price, influenced by the war in Ukraine, and the interruption of gas supplies to Europe from Russia

A stronger dollar makes the products we import even more expensive, as traders will need more cash on hand to buy the same amount of goods. Specifically, if at the beginning of the year you needed an average of 106 thousand ALL to buy 1000 dollars, now you need over 119 thousand ALL.

DOLLAR EXCHANGE

September 23, 2021 ALL 103.45

January 2022 ALL 106.86

September 23, 2022 ALL 119.46

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