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…)