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BSH plans 20 auctions to absorb 330 mln Euro
The weak exchange rate of the European currency in relation to the Lek seems to have started the recovery with the beginning of the new year 2024. 1 Euro is exchanged for 104.7 Lek at the currency exchange points, thus gaining 1.39 points only for the first week of January .
Even the American Dollar has started the year strengthening in relation to the Lek by at least 1.51 points, to be exchanged at 95.3 Lek. The British pound and the Swiss franc are trading at almost the same positions they were before the end of 2023, although they have continued to strengthen slightly.
On the other hand, the Bank of Albania has planned to intervene in the domestic market by withdrawing from the domestic market an amount of 330 million euros as a result of its foreign exchange reserve.
According to the calendar made public since the end of last year, 20 auctions are planned to be held to buy Euros in the market.
The first interventions start on February 16, 2024, where up to 10 million Euros will be required to be purchased, and the auction calendar is scheduled to close on December 20, 2024. / Klan
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