Off the wire
• Chicago wheat rallies on technical buying, soybeans lower on sluggish demand  • Operations at oil terminal in northwestern Latvia suspended as tank catches fire  • 1st LD Writethru: U.S. stocks end mildly higher amid mixed data  • 2nd Ld: Ship carrying 400 people sinks in Yangtze River  • Athens' diverse cultures meet to campaign for right to citizenship  • Russia discloses result of investigation into failed cargo spacecraft launch  • BiH to apply for EU membership in 2015 or 2016: official  • Hamburg beat Karlsruhe 2-1 to stay in first division  • EU, BiH association deal enters into force  • Cuba's corruption-fighting measures fall short: govt  
You are here: 　 Home

Albanian lek sharply depreciated against U.S. dollar in Q1 2015

Xinhua, June 2, 2015 Adjust font size:

The Albanian Lek was characterized by upward depreciating pressures in Q1 2015, under the impact of mainly external factors.

In this period, one U.S. dollar averaged 124.6 Lek, recording a new historical value of the past 12 years, Albanian Daily News reported on Monday.

The index showed a Lek depreciation of 3.0 percent in annual terms, the highest value since November 2010, according to the Central Bank. The depreciation stood at 1.8 percent compared to the previous quarter.

The continuous strengthening of U.S. dollar in the financial market provided the main contribution to this performance.

Owning to the lack of inflationary pressures in euro area trading partners and the increase of annual inflation in Albania, the Albanian Lek depreciated only by 1.6 percent in real annual terms. In line with the above developments, the exchange market pressure index50 was up, albeit standing below its historical average.

In line with the developments in international exchange markets, for the eighth successive quarter, the U.S. dollar continued to appreciate notably against the domestic currency, both in annual (21.6 percent) and quarterly terms (11.4 percent). Endit