FLASH
Shkruar nga Pamfleti
Since April 23, 1 euro is being exchanged on average at the level of 100 lek. The statistics of the Bank of Albania show that the European currency is at the lowest point in the history of the exchange since July last year, when it was also the peak of the tourist season.
In that period, the Bank of Albania decided to intervene in the market by increasing the purchase limit of euros as part of operations to replenish its foreign exchange reserves. This immediately led to the appreciation of the European currency.
But, despite the fact that the Bank of Albania decided to keep the purchase limit of the European currency high this year at 250-330 million euros, the national currency is moving towards breaking the psychological barrier, where 100 lek will cost more than 1 euros. This has been happening for a long time with the dollar, which continues to decrease significantly, currently being exchanged at 0.93 lek.
The Bank of Albania has estimated that the strong lek has helped to stabilize inflation and prices, considering that the dollar directly affects the price of oil and other raw materials, while the euro affects the import of goods.
In the financial stability report for the second half of the year, the Bank of Albania admits that the appreciation of the lek is in full accordance with the significant increase in foreign currency inflows from tourists, while for the first time last year the current account deficit was positive; this means that more euros remained in the country than came out.
While this continues in the first quarter of this year, where more than 1.5 million tourists have come to the country, with the seasonality of tourism extending throughout the year.
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