Euro Hits Lowest Level against Lek Since 2009

Euro Hits Lowest Level against Lek Since 2009

TIRANA, May 3

The Bank of Albania (BoA) says that the recent strengthening of the Albanian Lek against the Euro is not a consequence of the institution’s strategy for a strong domestic currency. On Thursday, the Euro exchange rate to Lek was 127.92, the lowest rate since 2009.
BoA’s governor gent Sejko said that other factors of the market favor the Lek to strengthen and the Euro to weaken.
“The sudden of the Lek during the last two months reflected the impact of specific factors of the currency market. This trend does not reflect direct effects or objectives of our strategy on a strong Lek,” Sejko said on Wednesday.
Moreover, he added that this is a short-term trend.
News Source: BoA, TCh


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