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Foreign Investments Surged in Q1

Foreign Investments Surged in Q1

TIRANA, June 12 Foreign Direct Investments (FDI) increased by 61.6 percent during the first quarter (Q1) of 2018 compared to the same period of the previous year. The Bank of Albania (BoA) reported that foreign companies invested Euro 283 million in the Albanian economy, or...

BoA Cuts Key Rate to Record Low of 1%

BoA Cuts Key Rate to Record Low of 1%

TIRANA, June 7 The Supervisory Council of the Bank of Albania (BoA) decided in an unexpected meeting to cut the key rate to the record low of 1 percent. BoA’s governor Gent Sejko said in a press conference on Wednesday that the Supervisory Council focused...

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...

Bank Customers Can Convert Loans in another Currency

Bank Customers Can Convert Loans in another Currency

TIRANA, April 5 Bank customers will have the right to convert loans in a currency in which they have their earnings. This decision was among the changes to the regulation on consumer and mortgage loan that have been adopted on Wednesday by the Supervisory Council...

BoA: Economy Expected to Grow in the Mid-Term

BoA: Economy Expected to Grow in the Mid-Term

TIRANA, March 29 The Bank of Albania (BoA) will keep the key rate unchanged at the level of 1.25 percent at least until the third quarter of 2018. BoA’s Governor Gent Sejko said during a press statement held on Wednesday that the monetary policy stance...

Tirana Real Estate Prices are Falling, BoA Confirms

Tirana Real Estate Prices are Falling, BoA Confirms

TIRANA, February 16 The Albanian capital was among the cities that saw house prices falling during the last quarter (Q4) of 2017. The survey on the real estate market conducted by the Bank of Albania (BoA) confirmed that the house prices in Tirana saw a...

BoA Unveils Details about New Lek 10,000 Banknote

BoA Unveils Details about New Lek 10,000 Banknote

TIRANA, December 7 The Supervisory Council of the Bank of Albania (BoA) adopted the details about the new Lek 10,000 banknote. The new banknote will show the image of renowned Albanian poet Asdreni, combined with the symbols of the Albanian flag, and the verse from...