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"Superleku" follows the revenge, European currencies in drastic decline, here is what is expected to happen with the euro
Written by SOT.COM.AL 19 Nëntor 2023
This weekend, the euro has reached the lowest point in the last three months, it is being exchanged at 103 ALL.
According to the rate published by the Bank of Albania, the European currency is being exchanged for 103 ALL on average. From the data, it can be seen that this level of the euro-lek exchange rate is equal to the first days of August, when the euro was sold at 102.35 lek, while it was bought at 101.35 lek.
The exchange rate data of the Central Bank show that the month of November is also confirming the strong position of the Lek in the currency exchange rate.
A weak euro is favorable to restrain the increase in the level of inflation in the country. During the month of October, inflation reached 3.8%, the lowest level recorded since February 2022, before the start of the war in Ukraine.
A devalued euro is positive for citizens and businesses that have loans in euros, as they pay less for the next installment, but it negatively affects the levels of Albanian exports.
Together with the euro, other main currencies such as the dollar or the pound have been devalued.