{"id":8735,"date":"2012-02-28T12:03:12","date_gmt":"2012-02-28T12:03:12","guid":{"rendered":""},"modified":"2022-05-06T10:07:34","modified_gmt":"2022-05-06T10:07:34","slug":"albanian-lek-all-to-euro-eur-exchange-rates","status":"publish","type":"post","link":"https:\/\/ndiqparate.al\/?p=8735&lang=en","title":{"rendered":"Albanian Lek (ALL) to Euro (EUR) Exchange Rates"},"content":{"rendered":"<div style=\"text-align: justify;\">Open Data Albania has conducted a research work on the exchange rate of ALL to EUR. The report is based on exchange rate data provided from the Bank of Albania.<p><\/p>\n<p>The euro is the common European currency established by the Maastricht Treaty in 1992. Even though the currency was introduced in non-physical form on January 1st, 1999 (checks, bank accounts), euro notes and coins first came into circulation on January 1st, 2002.<\/p>\n<p>Since 2001, the exchange rate ALL\/EUR has changed as shown in the following schedule:<br><script type=\"text\/javascript\" src=\"http:\/\/ajax.googleapis.com\/ajax\/static\/modules\/gviz\/1.0\/chart.js\">{\"dataSourceUrl\":\"https:\/\/docs.google.com\/spreadsheet\/tq?range=A3%3AB129&key=0Agylwmr5tEbVdE1YeVhrVktBOUtLOWZJODBleUZfWmc&gid=0&headers=-1\",\"options\":{\"displayAnnotations\":true,\"showTip\":true,\"dataMode\":\"markers\",\"fontColor\":\"#fff\",\"midColor\":\"#36c\",\"pointSize\":0,\"colors\":[\"#3366CC\",\"#DC3912\",\"#FF9900\",\"#109618\",\"#990099\",\"#0099C6\",\"#DD4477\",\"#66AA00\",\"#B82E2E\",\"#316395\"],\"headerColor\":\"#3d85c6\",\"smoothLine\":false,\"lineWidth\":2,\"maxColor\":\"#222\",\"headerHeight\":40,\"labelPosition\":\"right\",\"is3D\":false,\"fontSize\":\"14px\",\"hasLabelsColumn\":true,\"wmode\":\"opaque\",\"hAxis\":{\"maxAlternation\":1},\"maxDepth\":2,\"allowCollapse\":true,\"minColor\":\"#ccc\",\"mapType\":\"hybrid\",\"width\":600,\"height\":371},\"state\":{},\"chartType\":\"AnnotatedTimeLine\",\"chartName\":\"Chart 1\"}<br \/>\n<\/script><br><sup>Source: Bank of Albania<br>Comments and Analysis: ODA<\/sup><\/p>\n<p>During the first half of June 2011, the average exchange rate was 142.54 ALL\/EUR, compared with 138.65 ALL\/EUR in January, showing an appreciation of the euro by 2.8% since the beginning of the year.<\/p>\n<p>The appreciation of the euro by the end of the first half of the year is almost a new phenomenon in Albania. In the last ten years, this has happened only twice, first in 2002 (when the euro is appreciated by 10.2% from January to June) and second in 2009 (an appreciation of 4.2%). Given that 2002 is the year of introduction into circulation of euro notes and coins, as well as the last change of currencies in the Eurozone member countries, this year is not appropriate to be compared with the other ones because of its uniqueness. For this reason we can say that the phenomenon of appreciation of the euro during this period of the year is not normal, and we should continue analyzing the arguments for this appreciation.<\/p>\n<p>The exchange rate is the price of the foreign currency in terms of the local currency, and therefore as all other prices it is determined by matching market demand and supply. The principal factors affecting supply and demand in the euro market are mentioned below:<\/p>\n<p>\u2022 The existence of many foreign companies\u2019 subsidiaries (mainly European) increases their need to exchange the income in euro in order to transfer them to the holding companies;<br>\u2022 Individuals borrowing in euro to purchase real estate;<br>\u2022 About 64% of imports come from the European Union countries; therefore the demand for euro is high in the commercial sector;<br>\u2022 The visa liberalization has increased the demand of individuals to go on holiday or purchase products overseas, mainly in European countries;<br>\u2022 The visa liberalization has increased the number of individuals visiting their relatives (emigrants), reducing the number of emigrants returning to Albania during the same period, which decreases the supply of euro in the market during the summer months compared to the previous years;<br>\u2022 The political situation in Albania and the various events that occurred during this period have made foreign investors leave, which reduces the demand for domestic currency;<br>\u2022 The prospect, though distant of the adoption of the euro by Albania;<br>\u2022 The euro has also been appreciated in terms of other currencies during this period. In 2011, the euro was appreciated by 5.6% to the USD.<\/p>\n<p>All the factors mentioned above, indicate an increasing trend of the ALL\/EUR exchange rate, a trend that in absence of any internal situation (resolution of the political situation, increased domestic production and exports, increase in the number of tourists), or external one (the deepening of the European debt crisis or recession experience in the Eurozone) has no reason to change.\n<\/p><\/div>\n\n\n<b>Comments and Analysis:<\/b> Open Data Albania<br> \n<b>Contributed by<\/b>: R.E\n<style>\np{\ntext-align: justify !important;\n}\n<\/style>\n","protected":false},"excerpt":{"rendered":"<p>Open Data Albania has conducted a research work on the exchange rate of ALL to EUR. The report is based on exchange rate data provided from the Bank of Albania. The euro is the common European currency established by the Maastricht Treaty in 1992. Even though the currency was introduced in non-physical form on January 1st, 1999 (checks, bank accounts), euro notes and coins first&hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[57],"tags":[],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":21854,"url":"https:\/\/ndiqparate.al\/?p=21854&lang=en","url_meta":{"origin":8735,"position":0},"title":"Top 10 Businesses ranked based on the value of State Treasury Transactions registered in 2023","date":"July 12, 2024","format":false,"excerpt":"Open Data Albania is publishing a list businesses benefiting the most from the State Treasury Transactions during the 12 months of 2023. 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