Albanian LEK strengthens its position in Q3

Bank of Albania has stated that this September the Albanian LEK has increased its value with 4.6% against other currencies.

Compared to September 2016, ALL has won 4 points against Euro and 9 points against the US Dollar.

Dollar has lost valued due to events linked with foreign financial market. The Albanian Lek has kept gaining ground against foreign currencies for the past two years.

According to the Bank of Albania, this tendency will continue in the future and will reduce the risk for Albanian economy.

According to the Bank of Albania, there is excessive presence of foreign currency in the market, and this has increased the value of ALL.

The Bank says that this currency flux comes from the increased level of foreign investments and the deficit of the current account, which shows all currency exchange made in Albania.

SCAN

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