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Shkruar nga Pamfleti
Foreign currencies have gained ground against the Albanian currency. During the first week of this month, the lek seems to have stopped the revenge against the major foreign currencies.
According to the official exchange rate of the Bank of Albania, one euro is currently being exchanged for 104.27 ALL, having a tendency to strengthen from day to day. If we make a comparison with the first days of this year, it turns out that the euro has gained approximately two points. But despite this, it seems that the euro-lek exchange rate has stabilized and the fluctuations are at minimal levels. The weakening of the euro is considerable compared to last year as the European currency has lost 12 points. In the same period last year, the European currency was exchanged for 116 lek.
Apparently, this will be a new standard in the lek-euro exchange rate for 2024. During this year, the Bank of Albania has predicted that around 330 million euros will be withdrawn from the market throughout the year due to the effect of the foreign exchange reserve, but also to stabilize the exchange rate.
The first auction for the withdrawal of about 10 million euros is expected to take place next week.
A strengthening against the Albanian lek has also gained the American currency. Based on the official exchange rate of the Bank of Albania, the dollar is currently being exchanged at 97 ALL.
The Bank of Albania assesses this new level created in the exchange rate between the Lek and foreign currencies as an important mechanism to keep price increases under control.
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