FLASH
Shkruar nga Pamfleti
The lek has strengthened this week in the currency exchange rate against the euro and the US dollar.
Traditionally, November favors foreign currencies and devalues the Albanian Lek, but the first week of this month has brought the opposite effect to the market.
At the official exchange rate of the Bank of Albania, the euro is standing at 105 ALL, down 0.12 ALL since the end of last week. The European currency has fallen to its lowest level since August 15.
Even the US dollar has suffered a significant drop, by more than one lek compared to last week. One US dollar is exchanged for 97.7 ALL, the lowest value since August 22.
The lek is showing a new and gradual tendency over the price starting from the last week of October, especially in the exchange rate with the euro.
The increase in the basic interest rate on November 1 by the Bank of Albania seems to have given an even stronger impetus to the strengthening of the lek. Experts are generally skeptical about the effect of interest rates on the development of the exchange rate of the lek against the euro.
However, the increase in the base rate after almost eight months represents a further step in the normalization of monetary policy towards a balanced interest rate.
Lini një Përgjigje