DREAM / The Prime Minister resigns and wakes up under the Parisian bridge!

 Kliko këtu për të tjera
Voxpress:

Euro plummets, drops below the level of 115 lek

2022-12-15 08:45:18Biznes SHKRUAR NGA REDAKSIA VOX

Euro plummets, drops below the level of 115 lek

The euro further deepened the fall in the exchange rate on Wednesday, dropping below the value of 115 lek for the first time.

According to the official exchange rate of the Bank of Albania, the Euro was exchanged at 114.82 ALL, down by 0.39 points compared to the previous day. Meanwhile, in the first two weeks of December, the European currency has lost a total of two points in the exchange rate against the Lek.

According to foreign exchange agents, the demand for Euros in the last weeks in the foreign exchange market has suffered a further decline, after the interruption of purchases from the Albanian Electric Power Corporation (KESH). Numerous rainfalls and increased river flows have increased energy production in the country and reduced the need for imports, even in this period KESH has exported large quantities.

KESH has been an important factor in the foreign exchange market during this year, due to energy imports that are estimated at quite large numbers, with more than 300 million euros. The cessation of purchases by KESH has further weakened the positions of the Euro in the foreign exchange market. The European currency has had a continuous downward trend throughout the year, despite large energy imports and rising import prices. On December 14, the Euro-Lek rate decreased by 4.8% compared to the end of 2021.

Experts believe that for the following weeks the course trends will most likely be in the direction of a further weakening of the Euro, taking into account the seasonal factor. The second part of the month of December is associated with the return of emigrants and an increase in foreign tourists, thus increasing the supply of currency in the market.

The data of the Bank of Albania showed that, until the end of the 9th month, the current account deficit was in approximate values ​​compared to the same period last year. But, according to experts, the course may have been influenced by the growing performance of foreign direct investments, as well as by the always significant contribution of informal currency flows.

The continuous strengthening of the Lek is resulting in a favorable development in the conditions of high inflation and this year has partially mitigated the increase in import prices, considering that the Euro is the main currency in the country's foreign trade transactions. The appreciation of the Lek also brings benefits to borrowers in Euro, but with income in the local currency. On the other hand, the strengthening of the Lek is negatively affecting the exporting sectors of goods and services, as well as entities that have savings in the European currency./ Monitor


Në përputhje me standarded JTI

Video

SHIKO KANALIN NE YOUTUBE
×