Albania Central Bank Intervenes to Halt Currency Rise
Albania’s Central Bank is making a rare intervention in the market to purchase euros after the national currency, the lek, hit an unexpected ten-year high against the European currency.
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Intervention in the market is very rare in Albania, which had maintained a free-floating currency regime since 1992, unlike some other countries in the region which opted for fixed exchange rates with the euro, like Bosnia and Herzegovina or Bulgaria, or managed free-floating, like Serbia.