FLASH
Shkruar nga Pamfleti
The Euro's decline in the exchange rate against the Albanian Lek is breaking new records. According to the official exchange rate of the Bank of Albania, on Thursday the European currency was exchanged for 97.15 lekë, the lowest level ever recorded.
The exchange rate continues to decline on an annual basis. Compared to the same day last year, the Euro-Lek exchange rate is down 2.7%. According to currency exchange experts, the exchange rate continues to be under seasonal effects related to tourism. The summer months are associated with increased foreign exchange supply, due to the increase in the number of foreign visitors.
The high foreign exchange supply in the market continues to push the Euro exchange rate downward, despite the continuous interventions of the Bank of Albania. Starting from the second quarter of the year, the Central Bank has resumed foreign exchange purchases to curb the appreciation of the local currency. However, even this has not been enough to avoid further strengthening of the Lek.
The figures for purchases in the foreign exchange market are published with a delay of one quarter and at the moment there is no information regarding the volume of currency that the Bank of Albania is withdrawing from the market. In the period July-August last year. The Bank of Albania had purchased 176 million euros, purchases that were only enough to keep the exchange rate slightly above the 98 lek limit.
For the first quarter of the year, Bank of Albania statistics showed that the current account deficit fell to 212 million euros, 41% less compared to the same period last year. The contraction of the external deficit in the first quarter came in parallel with the decline in the deficit in goods and the further expansion of the surplus in services.
The main contribution to the services account was again made by tourism, which brought in net income worth 295 million euros, an increase of 10.5% compared to the first quarter of last year.
In addition to the usual seasonal effect, related to the summer holidays, foreign exchange inflows into the Albanian economy remain high also from foreign investments, especially in real estate. Real estate market agents say that purchases by entities from abroad continue to be high, especially in coastal areas.
Bank of Albania data shows that foreign investments in real estate are growing again this year. For the first quarter, they reached a value of 104 million euros, 24% more compared to the same period a year ago.
On the other hand, the government's austerity fiscal policy, characterized by budget surpluses, is also estimated to continue to play an additional role in strengthening the local currency.
Data from the Ministry of Finance showed that the budget closed the first six months of 2025 with a surplus of 33.1 billion lek, down 36% compared to the surplus recorded in the same period a year earlier.
The strong lek continues to be a factor influencing the low levels of imported inflation in the Albanian economy. In its latest monetary policy report, the Bank of Albania highlights that low inflation in the Albanian economy continues to be mainly the effect of external factors, while upward pressures on prices in the domestic economy remain high.
On the other hand, the continued strengthening of the Lek continues to negatively affect exports of goods and services, starting with tourism, which is increasingly becoming a fundamental sector for the Albanian economy. /Monitor/
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