Tourists exchange 1 euro for $100 in Albania

So from June 1st, where it was exchanged for $109.4, the European currency has been able to trade on the currency market by 103.6, a depreciation of 6% on the timeline of a month and two weeks.

Since the introduction of July, the coin has continued to be exchanged under the limit of 105 leks, also influenced by the currency's periodicity, which at the peak of the tourist season has always suffered devaluation because of major emissions, writes Top Channel, broadcasts Kosovo Clan.

In the first six months of the year, the Bank of Albania bought 120m euros through public auctions to increase the currency reserve by removing euros from circulation. That amount was twice as high as the same period a year ago, but having made no impact on the stabilisation of the euro.

The depreciation of the euro according to public institutions is coming because of the formal economy, where it mentions increased foreign investment, remittances and tourist behaviour. The current deficit reduction also indicates that there is more currency in circulation. Meanwhile, the same fate is being experienced by the dollar, which is being traded below the 100 dollar limit and on the 13 July currency course is being exchanged for 92.77. Compared to a year ago, the US currency's devaluation is 21%.

Public institutions have denied intervention, preferring to maintain the free exchange rate regime. The Bank of Albania has also organised a meeting with second-level banks on July 13th, urging them to offer assistance products to export businesses including future contracts that keep the exchange course fixed, and has requested that they help restructuring loans.