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The weakening of the euro and the dollar hit Albanians' savings, deposits lose value
2026-02-08 20:28:43 / EKONOMI&SOCIALE
Citizens and businesses have saved more money this year. According to data from the Bank of Albania, the value of deposits at the end of December 2025 reached around 14.8 billion euros, the highest historical figure, increasing by 1.2 billion euros compared to 2024.
Figures show that at the end of December, savings in lek were 7.1 billion euros, an increase of almost 814 million euros compared to 2024. Meanwhile, banks have 7.7 billion euros in savings in foreign currencies, euros and dollars, an increase of 411 million euros compared to the same period in 2024.
In fact, there is an Albanian paradox in the increase in savings, as last year's report by the Deposit Insurance Agency showed that one in three accounts opened in the banking sector is empty, while a minority has the vast majority of savings.
Holding deposits in lek has been safer in recent years, as they are not exposed to exchange rate fluctuations, as is the case with savings in foreign currency.
For this reason, money is being deposited in banks more in lek at a faster rate than in foreign currency, as the weakening of the euro and dollar has harmed citizens and businesses that had their savings in these currencies.
Deposits held in euros or dollars lose value when exchanged for lek. If an individual withdraws 10 thousand euros of savings in the European currency, and converts them into lek, he will only receive 960,000 lek, i.e. a 400 euro loss from the depreciation of the euro against the lek, compared to 2024. The same goes for all those who have savings in a foreign currency account.
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