Euro currency increases against Lek following three months of decline

The end of the summer season has prompted the euro to turn back to the growth in the foreign exchange rate.

According to the official exchange rate of the Bank of Albania, on Thursday the euro was exchanged with 133.5 leks, an increase of half a point from the previous day.

The euro has been steadily strengthening against the lek since last week and has reached the highest level in the last three months.

Experts believe that the main reason for the strengthening of the euro is a gradual decline in the European currency offer on the exchange market.

In recent months, this offer has been high due to tourism revenues, “emigrants”, and it is estimated that the election campaign might have had an effect by the end of June.

This growth was predicted by market experts who were expecting a correction of the euro rate after the summer season.

However, they do not expect the euro to return to the 140 lek limit, at least not in a short time.

In recent months, the euro has followed a trend of appreciation in international markets, especially against the US dollar.

It is not believed that the performance of international markets is a determinant factor in the Euro-lek rate, but the opposite is true with the US dollar rate.

The dollar’s exchange rate against the lek runs almost in a fairly proportionate manner with the green currency against the euro.

The fact that the dollar has weakened against the euro also explains the depreciation against the lek in recent months, dropping to the limit of ALL 110.

SCAN

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