The Lek gains points against all major currencies, revealing what is happening with the Euro in recent days

The Lek gained points in the foreign exchange rate with all major currencies on Wednesday. According to the official exchange rate of the Bank of Albania, the Lek gained ground again in the exchange rate with the Euro and was exchanged at 120.4 Lek, staying close to the highest levels. historical low.

Foreign exchange market agents say that the market is not showing much demand for the European currency, while its supply in the market is showing a further increase in recent weeks, with the approach of the tourist season and the increase in inflows of foreign visitors.

A positive impact is believed to be given by the increase in exports in recent months, driven especially by the increase in the price of raw materials and especially crude oil in foreign markets. So far, the high inflation that has gripped the world economy has not hit the Lek exchange rate with the Euro, although in the last two quarters there has been an increase in the country's trade deficit.

Experts hypothesize that a good part of the import needs are financed by direct borrowing in Euros from the banking sector, as happened at the end of last year with loans for the purchase of energy of the Distribution System Operator group. Further, the settlement of these liabilities is done in a distributed manner in time, mitigating the effect of this factor on the domestic foreign exchange market.

Given that we are already on the eve of the summer season, the expectations of exchange agents are in the direction of a further appreciation of the Lek, in case the foreign exchange market will not be affected by unexpected factors.

Usually, the Euro-Lek exchange rate marks the lowest annual levels in the period July-August, so it is very likely that this year the Euro will reach a new historical minimum in the Lek exchange rate.

On Wednesday, the Lek appreciated against all other currencies quoted in the domestic financial market. The US dollar lost almost 0.6 points and fell to the level of 114.44 Lekë, while the British Pound lost almost a point and a half and was exchanged at 141.91 Lekë.

Kursi i valutave të tjera ndaj Lekut kryesisht reflekton lëvizjet e tyre ndaj Euros dhe nuk ndikohet nga faktorë të brendshëm. Duke qenë se volumet e këmbimit të valutave të tjera në tregun vendas janë shumë të vogla, kursi ndaj Lekut pasqyron lëvizjet e tyre ndaj Euros, që është edhe valuta e huaj orientuese për tregun financiar dhe ekonominë shqiptare.

Në muajt e fundit, valutat kryesore globale kanë ndjekur një tendencë mbiçmuese kundrejt Euros dhe kjo është reflektuar edhe në kursin e tyre kundrejt Lekut. Banka e rëndësishme qendrore, si Rezerva Federale apo Banka e Anglisë, kanë nisur rritjen e normave të interesit, ndërsa Banka Qendrore Europiane nuk e ka bërë ende një gjë të tillë.

Ky është faktori kryesor që ka përcaktuar nënçmimin e Euros dhe, si pasojë edhe Lekut në kursin e këmbimit me valutat e tjera.

But recently the expectations for an increase in interest rates from the ECB are strengthening and maybe such a thing will happen within the summer. This has led the Euro to regain quotas in international foreign exchange markets, a trend that is also reflected in the Lek exchange rate against other currencies.