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Elections sink the Euro, a new negative record

2025-05-06 17:50:46Biznes SHKRUAR NGA REDAKSIA VOX
Elections sink the Euro, a new negative record
Elections sink the Euro, a new negative record

The euro falls below 98 lekë, for the first time since October 2008 when the European currency entered Albania.

According to the exchange rate published by the Bank of Albania, on average one euro is being exchanged for 97.99 lekë.

The dollar is also following a similar trajectory, being exchanged for an average of 86.54 lekë, the lowest level in 17 years.

The May 11 elections and the increase in tourists are considered the two main reasons.

The performance of recent weeks indicates that, most likely, the downward pressures on the Euro exchange rate will continue in the coming months. Last year, these pressures were absorbed through large and unprecedented purchases by the Bank of Albania.

The Central Bank purchased approximately 933 million euros in the domestic foreign exchange market in 2024, at the highest historical value. The amount of foreign exchange purchased increased by 249% compared to the previous year.

With inflation continuing to remain below the 3% target, it is reasonable to expect the Bank of Albania to intervene again, should the decline in the Euro-Lek exchange rate continue.


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