The euro rises in the stock market, but does not move in the domestic market

Illustrative photo

The European currency has strengthened in foreign markets after the European Central Bank's decision to increase the basic interest rate of the euro by 0.5%.

The decision strengthened the euro against all international currencies.

The euro has already surpassed the US dollar at $1.02 and has also gained points against the pound, the Japanese yen and the Swiss franc.

But the opposite happened in the domestic market. The lek has continued to appreciate against the European currency, which today has decreased to the value of 116.8 lek.

The reason for this situation is the seasonal effect, where there is always an inflow of euros in the summer period from the influx of tourists and immigrants, but also because changes in the Eurozone are reflected late in the local market due to the small economy.

The American dollar has increased today in the local market, reaching 115.1 Lek, the pound is valued at 137.6 Lek and the franc at 119 Lek. /CNA.al

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