TIRANA, May 20 /ATA/ – The exchange rate remained stable in the first four months of the year, the Bank of Albania said.
According to central bank’s fixed exchange rate, one Euro was exchanged averagely at 103.9 Lek in January and February, slightly up from 102.8 Lek in December 2023.
After keeping somehow same rate in the first half of the month of March, leading international currencies started to lose ground against Albania’s national currency.
In April, the Europe’s single currency was traded at 101.5 Lek. Euro’s depreciation is similar to the seasonal exchange rate changes, yet appreciation of the national currency is lower compared to the same period of the previous year.
The annual Euro-Lek exchange rate change was moderate during the first months of this year, falling to 9.7% in April from 10.6% it was recorded last December.
The Bank of Albania underlines that the situation in the domestic exchange market has been generally calm in the first four months of 2024, adding that the sale volumes remain high and the bid-ask spread remain within their normal interval.
However, central bank notes, Lek’s appreciation in the last few weeks has been associated with bid-ask spread increased quotation and volatility in the market, proving that the sensitivity of market agents to exchange rate fluctuations remains high.
According to central bank, the Lek-Dollar exchange rate reflects both appreciation of the US currency against Euro in the international market, as well as depreciation of the latter in Albania’s domestic market.
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