Exchange Rate Now!

There has never been such a spotlight on Albanian Lek (ALL) as in recent weeks. With the Lek tumbling some 3% against the Euro in Sep 2009, forex traders are nervously sitting at the end of their seats wondering if Albanian Central Bank may just give up on the Lek and advise a switch to the Euro.

The Albanians themselves are asking the same question. After all, the Albanian currency has been under harsh pressure during the whole of 2009, due mainly to high government expenditures and low levels of remittances (the Albanian Leke value diminished by some 12 per cent since January 2009). Being a nation in Europe, it makes perfect sense for Albania to make the switch to Euro. A look at the (more…)

This can be a good time to visit Albania.

In the late part of September 2009, the Albania Lek (ALL) has lost some 3 per cent against major currencies like the US Dollar. And while this information is good for tourist, Albanians are left with worry and panic on whether they themselves should switch their savings into the US Dollar or the Euro.

Currently, 1 UD Dollar (USD) is trading at 93 Albania Lek (Leke/ALL). Compared to just 2 weeks ago on 15th Sep 2009, 1 USD is trading was trading at about 91 Albania Lek. Albanians are now worrying if the trend of Albanian Leke (ALL) depreciation will continue.

The worst case scenario can happen when the Albanians themselves decide to switch (more…)

There is little activity in the exchange rate/forex market between AFN/ALL – Afghanistan Afghanis/Albania Leke. Therefore, you might not get an accurate and real-time figure of the actual exchange rate online.

How such low volume currencies are usually calculated might be used through the usage of a 3rd party currency, like the US Dollar or the Japanese Yen. Mathematically, the underlying formula for the AFN/ALL exchange rate equates to (AFN/USD)/(ALL/USD). Practically, it is also difficult for you to exchange either of the currencies (AFN – Afghanistan Afghanis/ALL – Albania Leke) near the actual currency bid-ask spread. Expect high commissions from exchange rate traders as well as equally volatile quotations. It is advisable for you to first trade against a major and globally. And by the way, if you are really looking to exchange/trade such a currency pair, you could really be a handful of people who travel to/from either countries.

After the US invasion of Afghanistan, Afghanistan still maintains excellent relations with allies, including Uzbekistan, Tajikistan and Turkmenistan – as all three share a similar culture as the Afghans. US dollar is loosely accepted in Afghanistan and you might want to consider using changing your ALL into USD if you want to go to Afghanistan and vice versa.