TIRANA, June 2 /ATA/ The Supervisory Council of the Bank of Albania approved today the new way of calculating the fixed exchange rate of the lek in the Bank of Albania.
The changes to the existing regulation aimed at developing the derivatives market in Albania, as a protective instrument against exchange rate risk and increasing transparency in the foreign exchange market.
The main changes consist in the expansion of the participation basis of commercial banks to 4 banks by replacing the foreign exchange offices as well as the publication of 10 participating banks of “Fix” on the official website of the Bank of Albania.
Also, the amendments provide for the publication by the Bank of Albania of the price “Bid” and “Ask” which represent the average price at which the banking system is ready to buy and sell the US dollar and the euro against the lek, as well as the standardization of the amount of trading in the interbank market. //a.i/
