Seasonal effects begin, euro decline in domestic market

According to the Bank of Albania's official course, one euro has been exchanged for 133.54, marking the second fall day.

It seems that seasonal effects are beginning to affect the exchange rate of the common currency with the money. With the approach of last year's holidays, the euro is expected to be exchanged to lower levels against the local currency. The end of the year coincides with the return of immigrants to the country, which affects the increase in currency offerings. According to experts, the euro's humiliation of money has largely come from the high currency offer on the domestic market.

The euro was easily strengthened before the November holidays, as November 28th-29th coincided with weekend holidays, individuals chose to fire out, fact that it was confirmed by travel agencies. Since the main destinations were towards EU and regional countries, the demand for currency from individuals was reflected with the slight growth of the common currency.

However, the euro continued to remain at low exchange levels, unable to reach the 133.8-dollar level of October 10th. The euro fell below the 134-dollar level on June 1st, marked the lowest level of nine years after elections on June 27th. According to the Bank of Albania's official exchange rate, the average euro/lek rate has been 133 leks per euro.
Compared to the same year ago, the euro is trading about 2.5m less. Reference to the graph below, in the same period a year ago, the euro had entered the crash trajector, bringing down $166.
Although in the country, the European currency has been weak because of the high offer, on international markets, it had dominant positions against the dollar. According to Financial Times data, the euro seized the highest level of 52 weeks (1 year) this September, trading for 1.2 dollars. Since then, the euro has maintained a trade stability with the dollar at $1.17 per euro. /Monitor/