**TIRANA** — The Albanian lek has reached record highs against the euro, with one euro exchanging for as little as 93.62 lek, marking a historic low for the European currency in Albania.
By comparison, a euro was worth approximately 140 lek in 2013. The current rate means a euro now buys roughly one-third less than it did a decade ago.
While Prime Minister Edi Rama has described the stronger national currency as a success, economists are questioning the underlying drivers of the trend. Analysts are examining whether Albania’s ongoing construction boom and suspected money laundering are flooding the market with foreign currency, thereby distorting the real economy.
Further details regarding the economic implications are expected as financial monitors continue to assess the currency’s trajectory.
Article source: tiranatimes.com | Image credit: Tirana Times