Euro falls to historic low against Albanian lek
May 04, 2024
The euro's value against the lek fell to 100.31 on the local currency exchange market on Thursday, the lowest value ever recorded, according to the Bank of Albania.
The major driving force behind the surge in the lek's value against the euro was foreign exchange inflow, mainly from flourishing tourism. With the upcoming summer season when many tourists will visit, the lek may remain strong.
The weakening euro may help ease inflation pressure, since import prices may also fall. The inflation rate for March was 2.3 percent, the lowest since August 2021.
Source: Xinhua
