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The euro may cross the "last red line" in the foreign exchange market. After ending the week "in the red" by exchanging for only 100.49 lek, the European currency for experts in the field may depreciate further, below the level of 100 lek.
" I believe that in August and September we will continue with the same trend and maybe we will have an exchange rate of 90 or 95 lek ", says Igli Tola, economic expert.
The rapid devaluation of the euro, touching the lowest historical levels, meanwhile, is showing even more clearly the dysfunction of the deeuroization policy undertaken by the Bank of Albania in 2017.
" I think it is not the fault of de-euroization more than the economic structure of the country which allows the circulation of money flows from informal sources ", he continued.
According to a study by the Bank of Austria, Albania is the only country in the Region whose currency is strengthening in relation to the euro. The survey showed that confidence in local currencies in the region has fallen, except in Albania.
" The study conducted after the start of the war in Ukraine shows that the euro has strengthened against all other currencies, except the lek. This is to worry as it confirms informal money ", said Tola.
The euro-lek exchange rate has fallen by 14 percent compared to the same period a year ago and by 12 percent since the beginning of the year. /A2 CNN
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