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Euro falls again, closer than ever to the 95 lek threshold

Politiko 2026-06-10 16:34:40

Euro falls again, closer than ever to the 95 lek threshold

The Euro-Lek exchange rate is deepening its decline and on Wednesday touched a new historical minimum, closer than ever before to the threshold of 95 Lek.

According to the official exchange rate of the Bank of Albania, the European currency was exchanged today at 95.07 lekë, the lowest level ever recorded. The Euro-Lek exchange rate has fallen by approximately 1.8% since the beginning of 2026, while on an annual basis the decline has reached 2.9%.

With the entry into the summer season, downward pressures on the Euro exchange rate are intensifying. This was expected, due to the more significant impact of tourism inflows on the supply of foreign exchange in the domestic market.

The purchases of the Bank of Albania have had an impact on keeping the Euro's depreciation trend under control and slowing it down, but without being able to stop it completely. In public communications regarding exchange rate interventions, the Bank of Albania has emphasized that it does not aim to maintain certain exchange rate levels, but to avoid very strong movements in it, in this case in the downward direction.

In the period 2024-2025, the Bank of Albania purchased more than two billion euros in the domestic foreign exchange market. Purchases are believed to have been significant in the first half of 2026 as well, but the values ​​of the operations have not been made public.

The short-term prospects of the exchange rate seem in favor of further strengthening of the Lek, due to the tourist season.

On the other hand, the increase in fuel prices and the increase in imported inflation in recent months is not having any noticeable effect on increasing demand for foreign exchange and curbing the decline in the Euro exchange rate.

However, rising inflation could affect the Bank of Albania's approach to foreign exchange market interventions. With inflation already at its 3% target and showing signs of further upward trends, the Central Bank is no longer justified in curbing the strengthening of the Lek under the argument of inflation control.

A withdrawal by the Bank of Albania would leave the exchange rate under the full effect of market forces, which currently seem to exert pressure in favor of a further strengthening of the local currency against the Euro.

The strengthening of the Lek would in theory alleviate inflationary pressures, at least in the segment of imported goods and services. But, on the other hand, the increasingly strong Lek is eroding the profitability and competitiveness of the exporting branches of the economy. /Monitor

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