Big fluctuation in the foreign exchange market / Euro again in 'plunge', this is how much the foreign currency will be exchanged from today

The Albanian currency has again gained ground against foreign currencies during this week. The European currency has closed the week with a downward trend and is now being exchanged at 107 lek. The highest value during this summer was reached by the euro at the end of August, where it was exchanged with over 110 ALL.

Since that period there has been a downward trend, losing about 3 points. Meanwhile, if we make a comparison with the same period a year ago, it turns out that the European currency has depreciated by about 10 points.

In September 2022, one euro was exchanged for 117.7 ALL. During the last week, even though the euro has weakened against the lek, the pace has been very slow.

Exchange rate agents connect this development with the continuation of the flow of tourists even during September, bringing more euros to the market.

The Bank of Albania estimates that the European currency can stabilize in the coming months, but its level against the lek is expected to be new. The strengthening of the Albanian lek against other currencies is positive for the Albanian economy as it directly affects the price level of food products or fuels.