Albanian economy experts say they are optimistic for the easing program launched by the European Central Bank on preventing further fell of the Euro against the dollar. It is expected that recent changes to international monetary markets will reflect on the exchange rate for Albanian Lek to other currencies. Expert Ilirjan Ligacaj said that compared to previous occasions, this time the fell of Euro against the dollar somehow will be reflected in ALL to dollar exchange rate.
Further on, speaking about the dollar, changes to the foreign exchange rate will be more tangible and almost in proportion to the dollar strengthening against Euro. In other words, this means that Albanian currency will fell further against the dollar.
The Albanian economy is related to the Euro currency, thus the most important changes to the domestic market will derive from Euro-ALL exchange rate. Moreover, based on the fact that currently Albania is on an external deficit situation, in theory the country may benefit from the fell of Euro. Although, Albania will gain fewer incomes from the export sector, further fell of the Euro may reduce the cost of imports.
In the meantime, Euro dropping will help currency lending as there are many who apply for loans in Albania. Almost 60 percent of total loans are in Euro and this means that Indi duals and businesses with incomes in Lek currency will benefit more from the exchange rate and pay less.
News source: ATA
Photo credits: martaposemuckel (Pixabay)
Leave a Reply