The purchase of foreign currencies, how it will be operated in the financial market - After the strengthening of the lek, BSH comes for the first time with 3-month forward auctions
During 2025, the Bank of Albania will organize for the first time forward auctions for the purchase of foreign currency with a 3-month term.
Of the 22 planned auctions, five will be with a 3-month forward term and 4 others with a 1-month forward term. The rest of the auctions will be conducted using the usual spot method, i.e. purchase on the auction date.
The forward agreement is binding, so both the buyer and the seller cannot opt out if the fixed exchange rate changes unfavorably.
The strong fall in the exchange rate of the euro against the lek has increased the attention of market actors around these contracts.
For the first time, the Bank of Albania organized forward auctions in 2021, to encourage the use of this instrument also in the transactions of the interbank market and private entities.
However, the demand for these contracts is low, as very few of the businesses are known, which does not encourage banks to invest.
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