Autumn is expected to bring stabilization of the euro

Autumn is expected to bring stabilization of the euro

Today, one euro is exchanged for around 104 lek, a value close to what European currencies had a few months before the rapid devaluation that took place mainly due to the arrival of tourists in our country.

This return of the exchange rate came after the last intervention of the Bank of Albania with the purchase of euros in the market, even though we are at the peak of the tourist season.

According to the Bank of Albania, if the overvaluation of the lek continues, interventions in the market may intensify, while predicting that the euro will stabilize in September.

The estimates of the Central Bank show that in the absence of strengthening of the exchange rate, the inflation rate would be 2.5 points higher.

The Bank of Albania emphasizes that the progress of the Albanian economy has had positive rates in the first part of the year and the same trend is expected for the coming months.

Inflation in the country has suffered a significant decrease during the last months, touching the level of 4.2% in July. But despite this, the Bank of Albania emphasizes that the increase in the interest rate will continue as there are a number of risks.

The Bank of Albania predicts that Albania's economic growth will reach 3.5% during 2023.