Euro tensions economy

Bank of Albania reported that Euro had lost terrain against the Albanian currency, but only with 0.03 ALL, leaving the risks still high.

Experts cannot explain this price increase, because new events happen every day and no one can give a prediction; Bank of Albania neither.

In the last ten days, Euro has remained over 142 ALL, while this Wednesday it was exchanged for 142.78 ALL.

During the electoral campaign, the European currency had strong fluctuations, increasing with 5% compared to one year ago.

Bank of Albania declared that the situation would change, but facts showed the contrary. For some days, 1 Euro was exchanged with 141.5 ALL, but in the last three days there is a constant increase, reaching 142.81 ALL.

In these conditions, the consequences for the Albanian economy will remain high, starting with businesses that have taken loans in Euro.

The negative difference is especially felt in subjects that have taken loans in Euro five years ago, when it was exchanged for 138 ALL.

Another factor are imported goods that come from EU and that are bought in Euro. Although the customs can generate greater revenues from VAT, due to the higher value of these goods, the Albanian buyers will feel the negative effect.

Compared to the USD dollar, ALL continues to have stable relations. Yesterday, one dollar was exchanged with 98.8 USD, while three days ago it was 97.33 ALL.

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