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Why is the Euro fixed at 96 lekë?

2025-11-29 22:21:09Biznes SHKRUAR NGA REDAKSIA VOX
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For several months, the exchange rate has not been experiencing major fluctuations. According to the Bank of Albania, 1 euro is currently being exchanged for 96.70 lekë.

In the first months of 2025, 1 euro was exchanged for 98 or 99 lekë, but the first signs of its decline appeared in May to deepen in June. So, the big break began at the beginning of the summer season. In July and August, the euro was fixed near the level of 97 lekë, while from September until now, the European currency is being exchanged for 96 lekë.

From the start of the year until now, the euro has experienced the greatest decline on October 21, when it fell for the first time to the level of 96.60 lek.

The lek has strengthened due to the large amount of euros in the country. This amount comes from large inflows of emigrants, tourism revenues, foreign direct investments, and informal money.

Considering the fact that goods are imported in euros, the strengthening of the lek has made goods and services purchased abroad cheaper, but has damaged the exporting sectors of the Albanian economy. Data from INSTAT show that in this ten-month period, exports of goods reached a value of 291 billion lek, decreasing by 7%. However, imports also resulted in a decrease for this period. The trade deficit reached a value of 445 billion lek, increasing by 3.8%, compared to the same period in 2024.

In addition to tourism revenues, which reached 1.9 billion euros in the first half of the year, foreign exchange inflows from emigrants also increased to 531 million euros.

Albania has a free and non-fixed exchange rate, which means that the Central Bank allows the exchange rate to self-adjust and does not intervene except in exceptional cases.

Even though the euro has suffered a drastic decline in relation to the lek, the Bank has intervened in a reserved manner in the purchase of foreign currency to adjust the exchange rate.


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