Euro keeps dropping despite Central Bank intervention
14/06/2018 15:37
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The Bank of Albania has made three purchases of Euros in the free market, to not allow further devaluation.
Top Channel has learned that the Bank has bought 118 million EUR in just one case, which were about to be injected to the market through a loan from the EBRD for the Energy Corporation, which they would use to pay debts to local banks.
Concerned by the consequences of 118 million EUR in the exchange rate, the Bank of Albania converted the entire loan, buying the entire quantity of Euros from EBRD and giving them the money in LEK.
Besides this, the Bank has made two other purchases from the internal market. The quantity has not been made public.
After the intervention, the value of Euros jumped from 124 ALL to 128 ALL.
But this lasted only four days. Euro kept dropping, reaching 126.1 this Thursday.
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