Euro drops below 107 ALL from tourism and cash purchases of real estate. Who is winning and who is losing?
The euro has dropped again today below the quota of 107 lek, returning to the downward trajectory, which was somewhat stopped after the intervention of the Bank of Albania in the market a few days ago, which bought 15 million euros.
According to the official exchange rate of the Bank of Albania, one euro was exchanged today for 106.91 ALL, with a decrease of 0.13 ALL compared to Friday of last week.
The contraction of the dollar was stronger, which went down to 97.75 ALL, or 0.48 ALL less than on Friday.
On June 9, the euro reached its all-time low of 105.62 ALL.
Compared to the beginning of the year, the euro has depreciated by ALL 10.55, or by 9%.
Whereas compared to the end of June last year, the euro is traded 12.5 lek less, with a decrease of 10.5%.
According to market actors, the strong fall of the euro is related to two factors:
-First, the high flow of informal currency that has significantly increased the supply of euros in the market. In recent months, real estate purchases have increased in the south of the country, where transactions are often in cash. The high demand has borne fruit and the prices have reached up to 3,000 euros per square meter.
-The second reason is related to seasonal effects, as the number of tourists has increased significantly, becoming another factor that has influenced the circulation of currency in the market. Last until August, seasonal effects are expected to put downward pressure on the euro.
Who wins and who loses
Humbësit më të mëdhenj janë eksportuesit. Për një euro, ata arkëtojnë më pak se 107 lekë, nga 119 lekë një vit më parë. Eksportuesit, sidomos fasoni janë ankuar vazhdimisht se janë në situatë të vështirë për shkak të shtimit të kostove e mungesës së fuqisë punëtore, por goditjen e fundit po ua jep dhe zhvlerësimi i euros.
Ata kanë kërkuar vazhdimisht nga Banka e Shqipërisë dhe Ministria e Financave arsyet e zhvlerësimit të fortë, ndërsa Banka i qëndron argumentit se kjo ka ardhur nga përmirësimi i ekonomisë.
Ata që paguhen në euro janë një tjetër kategori, që e pësojnë, pasi kur konvertojnë eurot po marrin gjithnjë e më pak lekë.
Turistët, sidomos ata të Kosovës, që janë pushues tradicionale dhe vijnë shpesh, po e ndiejnë më tepër, pasi përveç shtrenjtimit të çmimeve marrin më pak lekë kur konvertojnë eurot.
The importers are the winners, who are buying the products more and more cheaply, as this does not seem to be reflected in cheaper prices for the final consumers, on the contrary, inflation returned to growth in May.
Borrowers who have loans in euros and are paid in lek win, as they need less money to buy the same amount of currency. The government is the next winner due to the reduction in the cost of debt service in foreign currency./Monitor