EU Central Bank injects 1.1 trillion, EUR loses terrain
23/01/2015 00:00
400 apartments are given to citizens in Vora amid reconstruction after the 2019 earthquake 04/05 21:11
After the European Central bank announced to inject 1.1 trillion EUR in
the Eurozone, its value has dropped to the lowest level against the US
Dollar for the past 11 years. Euro dropped with 2% and on Friday it lost
0.7% other points, falling for the first time in the level 1.13 USD.
These strong fluctuations were reflected in the interior market. The Bank of Albania says that Euro has lost 0.34 points, going to the level of 139.9 ALL, compared to 140.25 of four days ago.
Foreign analysts say that Euro will keep going down in the months to come. Morgan Stanley, one of the biggest banks, changed its basic scenario of the Euro from 1.12 to 1.05.
Some analysts think that within this year, Euro might go under the dollar. It remains to be seen if it will be true.
The effects of Euros in the Albanian economy
Ardian Civici, former member of the Supervisory Council at the Bank of Albania, says that the European Central Bank movement helps the Albanian economy too.
“A more dynamic Europe might increase the demand for exports in the Albanian economy”, Civici declared.
According to him, this massive injection will favor the Albanian economy in many ways.
But this measure has given some negative effects, especially in the exports of the Albanian companies that sell in the European Union countries.
“Our exports in the Eurozone will have less profit. There will be a smaller interest rate”, Civici declared.
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