Euro Hits New Low Against Lek Amid Tourist Season Influx

The Euro has reached a new historical low against the Albanian Lek, closing at 92.85 Lekë for one Euro. This decline marks a 4.1% drop in value since the beginning of the year and a 4.4% decrease compared to the same period last year.

Market agents attribute this downward trend to increased foreign exchange inflows due to the tourist season, which has brought a 6.2% increase in foreign national arrivals in the first six months of this year.

The Bank of Albania's current account deficit fell by 28% in the first quarter of this year, reaching 228 million euros, while foreign direct investments reached a new historical record of 404 million euros, up 11.6% from the same period last year.

The Bank of Albania has been intervening in the foreign exchange market to purchase currency, but its efforts have only partially controlled the decline of the Euro, which has continued despite these actions.