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The Bank of Albania purchased 139.6 million euros in the domestic foreign exchange market for the first quarter of this year.
Central Bank data shows that foreign exchange purchases increased by 320% compared to the same period last year.
Euro purchases in the domestic foreign exchange market are divided into two groups: those planned in the annual auction calendar, with the aim of increasing the foreign exchange reserve, and direct purchases in the market, with the aim of curbing the appreciation of the Lek against the European currency.
Planned purchases in auctions conducted by the Bank of Albania for the first quarter reached the value of 44.1 million euros, up 33% compared to a year earlier.
But the biggest difference was made by direct purchases, with the aim of slowing the decline in the Euro exchange rate. In the first three months of the year (to be precise in February and March), the Bank of Albania bought 95.5 million euros within the framework of these interventions.
In the first quarter of last year, there were no such purchases, because generally in this period of the year, pressures for the depreciation of the Euro have been weak.
But, for the first time this year, the Euro has shown a significant downward trend and this has forced the Bank of Albania to start interventions in the first quarter of the year.
The purchases in the first quarter of 2026 follow the trajectory of large purchases of foreign exchange by the Bank of Albania starting in 2024. In the period 2024-2025, purchases reached a value of more than two billion euros. Last year alone, the Bank of Albania purchased 1 billion and 27 million euros in the domestic market.
If the trend of the first quarter extends to the rest of this year, it is likely that foreign exchange purchases will set a new record this year.
This year, the Bank of Albania plans to further increase its planned purchases of foreign exchange, at least in their planned portion. It aims to purchase 330-450 million euros through auctions, with the objective of increasing the foreign exchange reserve. The purchase target has increased significantly compared to the actual level of approximately 300 million euros in 2025.
The Euro-Lek exchange rate this year is showing further downward trends. According to the official exchange rate of the Bank of Albania, the Euro is currently exchanged for 93.67 Lekë. Since the beginning of the year, the Euro has depreciated by more than 3%, while on an annual basis the decline has reached more than 4%.
The Bank of Albania estimates that the main reason for the decline of the Euro is the improvement of the balance of payments, thanks to inflows mainly related to tourism and real estate investments, while part of the public perceives a significant role also played by foreign exchange flows from illegal activities.
An additional effect has also been provided by the tightening fiscal policy, characterized by budget surpluses for most of the year and a gradual reduction in public debt. / Monitor
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