The Europe’s single currency fell to historic low since April and one Euro is being traded at around 100 Lek since then.

Foreign exchange market experts say that the exchange rate continues to be affected by the seasonal factor, with a large inflow and high Euro and other foreign currency supply. Data show that the peak of the effect of the summer season on the exchange rate is reached between the end of July and the beginning of August.

The high influx of foreign visitors to the country implies higher Euro supply to the domestic market, combined with a recent downward trend in the value of the Europe’s single currency in the international market.

Euro has lost 13 points compared to the same period of the previous year.

Taking notice of the Euro depreciation, Albania’s central bank has intervened to purchase the European currency in the market in a bid to prevent the Euro from further depreciating below the 100 Lek rate.

Bank of Albania has purchased 32.60 million Euros in the first quarter of the year alone to stop its further depreciation.

In the last quarter, central bank has held three auctions to increase its foreign exchange reserve and it plans to enhance its intervention during the summer months. Bank of Albania plans to purchase around 330 million euros this year.

/u.sh/