exchange reserves – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Fri, 03 May 2024 17:02:36 +0000 en-US hourly 1 Albania’s Foreign Exchange Reserves amount to 5.6 billion euros in end of March https://en.ata.gov.al/2024/05/03/albanias-foreign-exchange-reserves-amount-to-5-6-billion-euros-in-end-of-march/ https://en.ata.gov.al/2024/05/03/albanias-foreign-exchange-reserves-amount-to-5-6-billion-euros-in-end-of-march/#respond Fri, 03 May 2024 17:02:36 +0000 https://en.ata.gov.al/?p=233863 TIRANA, May 3 /ATA/ – The foreign exchange (FX) reserves held by Albania’s central bank totaled 5.6 billion euros in the end of March 2024, up by 11.5% compared to the same period of the previous year.

According to Bank of Albania, the foreign exchange reserves are mostly held in debt securities and bank deposits. In the end of last year, debt securities accounted for around 75% of the total of exchange reserves, whereas cash deposits represented 17% of the total.

Albania’s sizeable reserve coverage and flexible exchange rate are important shock absorbers.

Central bank purchases foreign currencies at the exchange market according to a plan as part of its efforts to manage the foreign currency reserves.

Every year, the Bank of Albania plans to purchase foreign currency in the market with the aim of increasing its foreign exchange reserves, based on a schedule set at the beginning of the year and in 2024 it projects to purchase an amount estimated at around 250  to 330 million euros, safeguarding a healthy financial system.

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