7 minutes agoEuro marks drastic decline
Periskopi(8 years ago)
(8 years ago)The euro has continued its downward trend, reaching the lowest level in ten years since February 2009. According to the Bank of Albania's official course, one euro was converted to $126.89, with a drop of 0.15 compared to the day before, although the joint currency exchanges were [...]
The dollar has dropped Tuesday, and most of the basket coins, an indication that the money is strong. One dollar was converted to $107.38, with a sharp drop of 0.77 (U.S.) compared to the previous day and moving away from the lowest level since January of this year, which was reached yesterday, writes o'Lemonator.
In international stock exchanges, the euro has recovered after five consecutive weeks of decline, swapping $1.18, while markets are waiting to see if the slowdown of the first quarter of the eurozone has been extended and in the coming months, sends albinfo.ch.
Experts claim the main reason for the weak euro relates to the high currency offer on the domestic market, in the face of poor demand. The factors remain the same, sources from the informal economy, which are channeled through construction, revenues from tourists this year are expected to be more in number and ordinary factors such as exports, remittances, tax payments from businesses that have euro revenues, etc. The flow of tourists, a factor that has increased the currency bid, has recently increased.
Compared to the beginning of this year, the euro has dropped by 6.5, or 5.1%. This sharp decline has disturbed exporters, who have repeatedly issued statements to report the losses being suffered and demand that the causes of the currency's strengthening be found, which they claim is unusual.
