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The fall does not stop - Euro reaches a new historical minimum near 91.5 lek

2026-09-18 20:36:05Biznes SHKRUAR NGA REDAKSIA VOX

The fall does not stop - Euro reaches a new historical minimum near 91.5 lek

The exchange rate between the Euro and the Albanian Lek closed this week in decline. According to the official exchange rate of the Bank of Albania, the European currency was exchanged today for 91.54 lekë, the lowest level ever recorded.

The Euro/Lek exchange rate has fallen by 5.5% since the beginning of the year and by approximately the same amount compared to the same period a year ago.

The Euro's decline continues unabated throughout September. Such a decline is not common in the historical trends of this period. In general, after the second half of August and during September, the Euro exchange rate has marked a stabilization trend, after the peak of seasonal depreciation.

This year, the decline continues unabated through September. Market agents believe that this decline can be partially explained by the extension of the tourist season and a greater influx of vacationers from abroad for September as well.

However, the continued depreciation of the Euro seems to no longer be explained solely by the seasonal factor, but by more sustained pressures on the European currency exchange rate.

In general, tourism is more spread out throughout the year and an increase in the number of foreign visitors can also be perceived for other types of tourism, such as medical tourism.

Meanwhile, foreign investments in real estate, a sector that has been dominating foreign direct investments for several years, are also estimated to have a high impact.

Bank of Albania statistics show a significant improvement in the Balance of Payments, at least until the middle of this year. For the first 6 months of 2026, the current account deficit decreased, with a total value of 361 million euros or 40.6% less compared to the same period last year.

The current account deficit for the first 6 months of the year also marked the lowest level since 2018. The reduction in the deficit came mainly from the increase in services exports and remittances. The balance in services trade was positive at a value of approximately 1.79 billion euros, up 12.9% compared to the first half of last year. More than half of the contribution to the services sector came from tourism, which in the first 6 months of the year brought the economy net income worth 957 million euros, up 20% compared to the first half of last year.

The strong growth in foreign direct investment also appears to have had an additional effect on the overall balance. Bank of Albania data show that for the second quarter of 2026, the value of foreign direct investment reached 741 million euros, an increase of 86% compared to the same period a year earlier.

This growth was significantly influenced by flows related to a significant development project in the real estate sector. For the entire first 6 months, the total value of foreign direct investments reached 1.144 billion euros, an increase of 50% compared to the same period last year.

Also, an additional effect seems to be exerted by the large fiscal surplus, which is reducing the supply of Lek in the market.

For the first 7 months of 2026, the budget was in surplus at the value of 50.7 billion lek, an increase of 60% compared to the same period a year earlier. (Monitor) 


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