The fall of the euro does not stop / It touches a new record

2026-04-23 15:12:00, Ekonomi CNA

The exchange rate between the euro and the Albanian lek is deepening its decline this week and is breaking new historical records. According to the official exchange rate of the Bank of Albania, the European currency was exchanged for 95.49 lekë, the lowest level of all time.

The euro-lek exchange rate has fallen by 1.3% since the beginning of the year and by 3.3% compared to the same period a year ago.

Foreign exchange market agents say that the second quarter of the year has further accentuated the downward pressures on the euro, as expected, mainly due to an increasing effect of tourism.

During 2026, the strengthening of the lek took a new impetus, which was clearly seen in the first quarter of the year. A strengthening of the lek during the first quarter had not been, until this year, a common dynamic in historical data.

But, apparently, the high supply of the currency and weak demand for it has caused the euro to continue losing ground. The Bank of Albania is regularly intervening by buying euros in the foreign exchange market, but without being able to completely stop the gradual decline of the European currency's exchange rate.

According to official statistics, last year the Central Bank bought 1 billion and 27 million euros, with the objective of increasing foreign exchange reserves, but mostly in order to curb the strengthening of the lek exchange rate. The amount of foreign exchange purchased has increased by 10% compared to the previous year. The total value of purchases includes those planned, with the aim of increasing foreign exchange reserves, but also those related to direct market interventions, with the aim of preventing further decline in the exchange rate.

This year, the Bank of Albania plans to further increase its planned purchases of foreign exchange in the domestic market. It aims to purchase 330-450 million euros through auctions, with the objective of increasing foreign exchange reserves.

Large purchases of foreign exchange by the Bank of Albania have increased the money supply of the Lek at the highest historical rates in the last months of 2025 and at the beginning of 2026. Despite this, the local currency continues to strengthen. /Monitor