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Euro drops to 119.4 lek, the lowest level since 2007: What are the causes?

2022-04-22 17:02:39Biznes SHKRUAR NGA REDAKSIA VOX

Euro drops to 119.4 lek, the lowest level since 2007: What are the causes?

The euro marks the largest decline in our country since 2007. Experts see several reasons for this significant movement in the foreign exchange market.

"This award is more or less the same as in 2007, when it had the lowest historical level. "The intervention of the Bank of Albania to increase the interest rate, another aspect may be OSHEE that had high energy imports and needed euros, they now need less euros because they do not enter the market", said the expert Klodian Muço for Tv Klan.

According to experts, the strengthening of the lek brings disadvantages for exporters of Albanian goods.

"A strengthening of the lek will increase export costs. Exporters collect in euros, but pay in lek, reduces the income of exporters. Exporters on the other hand have an impact on employment. "If this reduction continues, it could close down jobs."

But on the other hand, the strengthening of the lek and the fall of the euro is an advantage for importers, who must reflect on the reduction of prices in Albanian markets.

"There is an advantage for importers because they sell in lek, but buy in euros. In such conditions they collect more. I wish that this collection passes to the pockets of citizens so that citizens can buy imported products at a lower price, but traders keep the margin they earn in their pockets.

In March, the euro reached high values ​​in the foreign exchange rate, depreciating the lek. It was the intervention of the Bank of Albania, which launched the Euro in the market to stabilize the exchange rate.


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