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Euro in "crisis"/ The expert reveals the reasons for the sharp decline of the currency

2022-12-21 22:49:00, Ekonomi CNA

Euro in "crisis"/ The expert reveals the reasons for the sharp decline

Artan Gjergji, an expert on financial markets, has spoken about the strong decline that the euro currency is experiencing every day.  

Gjergji, in an interview with the journalist Aurora Sulçe, spoke about the causes that brought about this situation.

"It is not the fall of the euro, but there is an overvaluation of our national currency. There has been a large increase in foreign exchange although there are several factors that have influenced this. There are many euros in circulation. Every type of commodity whose quantity is increased decreases in value. There is no indication that there is a strengthening of the lek. There are other factors as well. We are at a moment when the Central Bank has started increasing the basic interest rate. On the other hand, leki is being withdrawn from circulation. We have positions, perhaps in extraordinary quantities, while the end-of-year holidays have arrived and the consumer wants to use resources in Lek. Banks sometimes have problems supplying the entire amount of lek in circulation and sell euros", said Artan Gjergji./ CNA.al





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