Experts predict depreciation of Euro and US dollar vis-a-vis Lek

The Albanian domestic currency, the lek, will continue to strengthen its position against major currencies, such as the euro and the US dollar.

According to the Deputy Director of Treasury Department at Credins Bank, Rinald Gjyli, the declining trend of the euro cannot be called seasonal, as its depreciation has started early this year.

Meanwhile for the coming months, Gjyli predicts that the euro will be at the value of 131.7 lek.

“The Euro may already mark a further decline from 132.5. The euro is downgrading to ALL 132 and according to our forecasts it may remain below the level of 131.7. There have been and will be several reasons for the decline of the euro, and one of the main reasons is European currency’s profitability. Over the past five years, the European currency has offered very low interest rates and investors now may distance themselves from this currency also because of the profitability of deposits with low interest rates,” Gjyli said.

Regarding the US dollar, Gjyli said that there is an increasing interest from investors and citizens, as the deposit interest rate for this currency is higher than the euro.

Exchange rate fluctuations also have an impact on the country’s economy, but also in the “pocket” of citizens.

In addition to the impact felt on trade exchanges between countries, this effect is also felt in household loans or deposits.

SCAN

*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.