Albanian Lek wins terrain against Euro
05/12/2011 08:00
The Washington Agreement Must Be Reactivated! 06/01 19:04
Although Euro has gained points against US Dollar in international
markets, besides this Friday, the Albanians continued to change their
preferred currency in ALL, a phenomenon created by the panic about the
fate of Europe.
After marking the lowest point of the year, Euro continued its plunge in the Albanian market, at around 137-138 ALL, while a few weeks ago it was at around 140. The Albanian bank announced an exchange rate of 138.25, while the XE.com website, which bases its calculations in big amounts of purchases, announced yesterday that 1 Euro was exchanged with 137.4 ALL.
The currency exchange points say that in the last weeks they have had a great demand for selling Euros, while most of the citizens ask what they can do with their savings. The most usual choice is to temporarily exchange them in ALL, but some of them exchange it in USD.
The abrupt rise of the ALL in the recent days, seems a mere consequence of the panic caused by the international media on the possibility of Europe abandoning Euro, due to the sovereign debt crisis in countries like Greece, Italy and Spain.
Investigators of the international market feel confident that the Euro abandonment is just a theory, because the EUR keeps staying strong against USD. One Euro is currently being exchanged with 1.34 USD, different to the 1.31 of the last month.
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