TIRANA, Aug 27 /ATA/ – Europe’s single currency and the U.S. Dollar gained ground against Albania’s national currency on Tuesday at a time when Euro inflows on the local market have slowed down as the peak tourist season comes to an end and dozens of thousands of Albanian migrants have left the country after spending summer holidays at home.
The Euro recovered in the domestic exchange market over the past few days, following its depreciation in early August, thus reflecting the end of the seasonal effects, according to the Bank of Albania.
According to the central bank’s fix exchange rate, one Euro was traded at 121.49 lek, or up by 0,23 lek compared to a day ago, while the U.S. Dollar was exchanged at 109.34 lek or 0,25 lek more than it was traded on Monday.
Economy experts say that national currency traditionally weakens in end of August due to the end of the seasonal effects of the peak tourist season.
According to them, the Euro will continue to remain stable, but the international leading currencies depreciate with the return of migrants in December.
The Euro traded at an average of 123.3 lek since beginning of this year, down from an average 127.6 lek it was exchanged in 2018, depreciating by around 4.3 lek.
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