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The crisis of the Euro, the European currency continues to plummet against the Lek and the Dollar

2022-07-16 20:40:06Biznes SHKRUAR NGA REDAKSIA VOX
The crisis of the Euro, the European currency continues to plummet against the
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The euro has dropped this week to record levels of 117.2 lek, while the dollar maintains strong positions, despite daily oscillations. Within a few days, the European currency has weakened by 0.4 lek, following the trend of the past weeks.

A situation caused by external and internal factors. In international stock markets, for the first time in 20 years, the euro equaled the dollar this week. It even fell below 1 to 1 on Thursday, a situation that had never happened since December 2002, when it was first launched on the market as a sovereign currency.

The dramatic decline of the euro is happening due to fears of a long and deep economic recession for Europe in the coming months, due to the interruption of gas supplies from Russia.

At the same time, the US federal reserves have also strengthened the dollar, in an effort to curb the increase in inflation, which has reached 8.8%, the highest level in 40 years, writes A2Cnn.

Next week, it is expected that the European Central Bank will raise interest rates, although the reaction will not be strong, for fear that the economic growth will turn in the opposite direction. In addition to external factors, the weakening of the euro in our country is also influenced by increased foreign exchange flows from foreign tourists and immigrants returning to their homeland for vacations. A situation that repeats every year in this period.


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