currency-reserves-deposits – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Wed, 27 Mar 2024 18:07:17 +0000 en-US hourly 1 BoA: Stock of foreign currency reserves estimated at 5.7 billion euros at the end of 9 month period https://en.ata.gov.al/2024/03/27/boa-stock-of-foreign-currency-reserves-estimated-at-5-7-billion-euros-at-the-end-of-9-month-period/ https://en.ata.gov.al/2024/03/27/boa-stock-of-foreign-currency-reserves-estimated-at-5-7-billion-euros-at-the-end-of-9-month-period/#respond Wed, 27 Mar 2024 18:07:17 +0000 https://en.ata.gov.al/?p=230824 TIRANA, March 27 /ATA/ The stock of foreign exchange reserves at the end of the 9- month period of 2023 amounted to around 5.7 billion euros.

The Bank of Albania announces that “this level is considered sufficient to cover 7.4 months of imports of goods and services, or 300% of the short-term gross external debt.”

The Bank of Albania administers the country’s foreign exchange reserves, which are mostly held in debt securities and deposits.

According to BoA, the foreign exchange reserves can serve as an instrument to support the financial sector with liquidity in foreign currency, or to buffer the shocks in the foreign exchange rate.

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