The fall of the euro does not stop / It was exchanged for 97 lek throughout July, at historical lows
The euro has depreciated dramatically against the lek during the month of July. According to the official exchange rate, 1 euro was exchanged for 97.42 lek on July 25, thus touching the lowest level in at least the last 5 years.
But how has the exchange rate performed since the beginning of this year?
This year did not start very positively for the European currency, as for most of January, the euro continued to be exchanged for 98 lek. In the first half of this year, the only time when 1 euro was exchanged for 100 lek was on January 30.
On the other hand, the euro would fall for the first time below 98 lek in May, specifically to 97.99 lek on May 6, only to recover somewhat in the rest of its term. Meanwhile, since July 2 until now, 1 euro has been exchanged for only 97 lek.
The euro's fall below 100 lek began in August of last year, and since then, the euro-lek exchange rate has remained at extremely low levels.
On July 29, the euro recovered slightly, trading at 97.54 lek.
What are the efforts made to smooth the exchange rate and the consequences of this depreciation?
Exporting businesses have been the ones that have suffered the most losses from exchange rate fluctuations in recent years, as they have contracts that are mainly in euros and a contract for the same value in euros, but converted into lek is worth less. A few months ago, the ProExport Association requested that an industrial exchange rate be established, that is, that the lek-currency exchange rate be fixed only for exporters.
The Bank of Albania also has the right to intervene in the domestic foreign exchange market to soften the exchange rate. In the first quarter, the Bank of Albania purchased only 33.20 million euros in order to increase foreign exchange reserves, so it did not make direct interventions to curb the further decline of the euro.
What are the results of food inspections? Citizens: They should be done more often, we are safer
The Ministry of Finance, the General Directorate of Taxes, and the Ministry of Agriculture are continuing actions to formalize the market for agricultural......
Is there hope for the euro's growth? Tafa: More monetary policy should be used to soften the exchange rate
The euro-lek exchange rate reached historic lows in July, with 1 euro being worth approximately 97 lek. But what is happening to the euro? Why is the......
Beach fashion 2025 at QTU/ Discounts up to -70%, the accessories that are making a name for themselves this summer
The temperatures that are rising every day have brought the ideal moment to refresh your beach wardrobe. And the most sought-after destination for this is......
Rainfall extinguishes fires/ Two fires are still active, 4 are under monitoring and 46 have been extinguished
The rain that began in the early hours of Tuesday has significantly affected the extinguishing of most of the fires in Albania. According to data from the......
Albania hosts 18 foreigners every minute! The world is discovering our country. High interest from Israel, Egypt and China
In the first half of 2025, Albania hosted over 4.76 million foreign nationals, marking an increase of 4.8% compared to the previous year. This is a position......
Women work more part-time/ Younger age groups and retirees prefer it more
Working is an essential need for every citizen, as it provides the income we need to cover our expenses and living costs. The choice of work and its schedule......
The law on non-food products is "reformed" / Draft in Public Consultation, in accordance with EU rules
As part of efforts to improve the functioning of the internal market and approximation with European legislation, a draft law on several additions and......
Applications for university study programs open/ Academic year 2025–2026, high school graduates can apply for 10 programs
The Minister of Education and Sports, Ogerta Manastirliu, through a post on social networks announces the official opening of applications for the selection......
