Euro regaining terrain against ALL
04/06/2011 08:10
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After May 8th elections, the European currency seemed to stop its hike that culminated during the campaign with a 5% increase.
Some days ago, 1 euro costed 141.5 ALL, but in the last three days there has been a constant increase, until the Bank of Albania reported yesterday the highest level in the last 8 years.
Euro costs 142.58 ALL from 142.10 that it was three days ago.
Euro has increased in the last ten days with more than 1.5 ALL, or 1%. Compared to one year ago, ALL has been devaluated with 7%.
In these conditions, the individuals that have loans to pay in Euro and are paid by their employers with ALL are facing difficulties.
Those who have taken loans five years ago, today have to pay installments that cost 2500 ALL more.
However, the Bank of Albania says that the situation has no concerning elements, because these effects will soon pass.
Euro is gaining terrain also against other currencies, including the American Dollar. In these conditions, the strengthening of Euro makes imported goods have higher prices, while the government will benefit more in Customs.
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