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Sinking of the European currency, BoA will buy 100 million euros more this year
2026-01-03 16:53:30 / EKONOMI&SOCIALE
While the weakening of the European currency, the euro, has only caused a free fall in the Albanian foreign exchange market, the Bank of Albania will withdraw more currency from the market this year.
According to the foreign exchange market intervention calendar, in 2026 it is expected to purchase 330 to 450 million euros, almost 100 million euros more compared to last year.
In total, there are about 26 auctions planned to be held, with the largest Central Bank interventions expected during the summer, when foreign exchange inflows into the country increase due to the influx of tourism.
These market interventions by the Bank of Albania are made mainly for the purpose of foreign exchange reserves, but also to maintain a stable foreign exchange rate.
The strengthening of the lek on the one hand and the weakening of the euro on the other hand during the past year is also linked to foreign exchange inflows from tourism, which in 9 months reached around 4.5 billion euros.
According to experts, a weak euro exchange rate is in favor of the government's external debt, but also for the Central Bank to keep inflation under control, however, it brings large losses to exporting businesses, which sell abroad in euros.
Currently, 1 euro is exchanged at the rate of 95.6 lek in the foreign exchange market.
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