TIRANA, Jan 7 /ATA/ – Leading international currencies kept strengthening against Albania’s national currency Lek in the domestic exchange market on Saturday.
According to central bank fixed exchange rate, Europe’s single currency, the Euro was traded a 117,49 Lek or 1,4 Lek more than a day ago.
The U.S. Dollar also gained ground and it was traded at 111,75 Lek, or 2,41 Lek more than a day ago.
According to the central bank data, the Europe’s single currency kept gaining ground against national currency Lek in the first week of January, after hitting a record low in the last two months.
According to market stakeholders, the Euro’s swift recovery and appreciation is driven by an unexpected growth in market and business demand for the European currency in the last days of December.
“If the strong demand in the last few days has been a result of the business purchases in advance, experts think such a trend would lower demand for the European currency by end of the first quarter of 2023. In such a scenario, the Euro will gradually depreciate again in the coming months,” bank experts say.
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