During the third quarter of the past year, the Bank of Albania intervened in the domestic currency market by buying currencies at an amount of 10.3 million EUR. This action by Bank of Albania was taken with the aim to increase the reserves of currency, as the official announcement states. The Bank of Albania bought currencies from the second tier banks at the auction held on December 11th of the past year.
This was the first auction published by the Bank of Albania in their auctions calendar for the buying of the currencies for a period of 12 months. The second and third auctions will be held respectively on April and July months of this year.
Bank of Albania aims to buy about 2 or 5 million EUR currencies in order to increase the liquidity and to keep the balances in the market, based on the predicted indicators by the Bank.
After the new Governor was appointed, the Bank of Albania has undertaken several policies and measures for the maintenance of the stability in the market and to support the private banks.
News source/photo credits: ATA