The exchange rate between the Euro and the Lek is breaking new historical records. According to the official exchange rate of the Bank of Albania, the European currency is exchanged for 97.3 Lek, the lowest value ever recorded.
Foreign exchange market agents say that the effect of the summer season has influenced the gradual depreciation in July, while it was predicted that this trend would be seen in August, when the tourist peak is also experienced.
To maintain balance in the exchange rate, the Bank of Albania has purchased foreign currency and in the most positive scenario, the intervention has slowed the decline of the Euro, but has not been enough to raise the exchange rate of the European currency.
The Euro exchange rate had fallen slightly below the level of 98 lek since June, while other currencies have had a similar performance, with the dollar now exchanging for 84.3 lek, the pound for 112, and the Swiss franc for 104.1 lek.
This pace suggests that downward pressures on the exchange rate are continuing to be present this year, even to a greater extent than the Bank of Albania's expectations.
