Euro Hits Historic Low in Albania

The Euro has dropped to its lowest historical level in Albania's foreign currency exchange market. According to the Bank of Albania, one Euro is now traded for Lek 93.07 on August 10.

This decline marks a 3.8% drop since the beginning of this year and a 34% decrease compared to the Euro's highest historical level in February 2011 when it was worth Lek 140.4.

Foreign exchange agents attribute the seasonal decline to the influx of tourists during peak season, but also acknowledge that it is part of a larger downward trend starting from earlier this year.