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Written by SOT.COM.AL 29 Shtator 2023
Dritan Vakaj, director of the Association of Foreign Exchange Offices, has stated that the fall of the Euro continues because the summer season has been extended. According to him, although we are in autumn, we are in a longer summer.
In a connection with Skype for "Dollar Square", Vakaj has emphasized that the factors that have influenced the fall of the Euro are some such as the flow of tourism or projects in the field of construction.
"Actually the autumn tourists are experiencing a relatively hot autumn, so we have a slightly longer summer this time. To be honest, we as foreign exchange offices expected that the euro would be stronger, considering the previous history. But there are several factors that have prevented the euro from reaching the levels we expected. As you said, the summer is somewhat longer and relatively hot summer. In addition to the influx in the field of tourism, we also had several projects in the field of construction. There was also an interest at the national level, which made foreign investments increase. There has been success for projects in the coastal area. In some way, this has influenced us to have a slower growth. Of course, we had an increase during September of the euro, in relation to the lek,
Furthermore, he emphasized that an exceptional growth of the Euro is not expected in the country, it will continue at a slow pace.
"You never know the scenarios that can happen, but it is not expected that we will have significant fluctuations in the exchange rate. What this means is that we can absolutely rule out situations where the euro returns to the level where it was at 120 or 130, but this is not expected, but can only happen in exceptional situations. It will be a slow growth of the euro, with 50% minus or plus. Of course, it is influenced by market factors."