TIRANA, Aug 24 /ATA/ – Europe’s single currency Euro gained ground against Albania’s national currency in the domestic exchange market on Tuesday, whereas the U.S. Dollar slightly depreciated by 0.09 Lek.
According to the Bank of Albania’s fixed exchange rates, the Euro slightly increased by 0.02 lek and was traded at 121.71 lek, following a decline last week.
The US dollar was traded at 103.70 lek.
The volatilities in the domestic exchange market are within the central bank’s expectations and according to the market stakeholders the supply and demand affect the volatility of the domestic exchange market and the exchange rate between Albanian Lek and the leading foreign currencies.
The Europe’s single currency appears stable and its slight fluctuations reflect seasonal effects in the summer season, when the arrival of emigrants increases the supply of currency in the market.
The appreciation of the Euro is bad news for importers and borrowers in Euro who have their income in lek, but good news for Albanian exporters and those who have their income in Euro.
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