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What will happen to the euro? No strengthening is expected, revaluation of properties may devalue mw further

2024-08-28 09:26:56Biznes SHKRUAR NGA REDAKSIA VOX

What will happen to the euro? No strengthening is expected, revaluation of

August is coming to an end, immigrants and tourists are thinning out, but the foreign exchange market continues to be affected by seasonal effects. The euro has reached its lowest historical level, depreciating by around 9.5 points compared to August 27 a year ago. The fall is even stronger compared to the years 2018, 2019 or 2020.

"After the middle of August and more so now that we are towards the end, there is a certain decrease in the supply flows in euros, but the warm weather has extended the season which can go until October", Dritan Vakaj, the head of the Currency Exchange Association.

Out of every two years, in just two seasons. The frequency of the cycle of changes in the foreign exchange market, repeated almost regularly in two decades, has been broken. The new normal in the exchange market is taking a while. What is planned for the future? "We don't expect big changes. The euro may have a not-considerable increase in the future", says Vakaj for A2 CNN.

Predictions that the euro will not "raise its head" in the future become even more reliable with the property revaluation process that is expected to receive the green light with the re-start of parliamentary life. "The revaluation process will stimulate transactions, especially in euros, increasing the circulation of the currency and potentially influencing its devaluation," says Vakaj to A2 CNN.

In the first half of the year alone, nearly 8 billion euros were exchanged at nearly 600 foreign exchange points and second-tier banks. This is the highest level ever recorded.


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