The exchange rate "hits" euro deposits - Where should we spend and invest money in the conditions of the strengthening lek?
The exchange rate risk has made many citizens reflect on their savings during 2025.
Deposits in euros are opened mainly by individuals and businesses that have income in euros, but not only. If they have their expenses in lek, then exchanging the European currency for the national one will cost them a lot in their pockets, considering the fact that for more euros, you already get less lek. In other words, for those who currently have deposits in euros, which they may have opened 1 year or more ago and are about to expire, they lose more from their conversion into lek than they gain.
Those who are planning to open a deposit for the first time or a new one should think twice about whether they want to open it in euros or in lek.
According to the latest data from the Bank of Albania, deposits in the national currency reached 914 billion lek in 2025, increasing by 11.7% compared to 2024. Meanwhile, deposits in foreign currency amounted to 940 billion lek, most of which in euros, increasing by 6.2% compared to 2024. Despite the fact that deposits in euros continue to dominate, the growth of those in lek again turns out to be greater.
The depreciation of the euro may undoubtedly be a factor that has influenced the "strengthening" of deposits in lek, but not necessarily. The more favorable interest rates for deposits in the national currency have made them more attractive than those in euro.
The situation is different with loans. People who have taken out loans in European currencies, but whose income is in lek, will need less lek to convert them into euros and pay the installments in the same currency in which they took out the loan. Even if the loan is in euros and the installment is paid in lek, the impact of the exchange rate remains significant.
So, in conditions where the euro continues to weaken, those who have an existing loan in the European currency benefit more at the moment, because if you have a profit in lek and convert it into euros for the installment, you will pay less.
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