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…)