The euro has fallen to a historic low of just 92 lek in Albania, marking another dramatic decline of the European currency against the Albanian lek.
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| A digital financial board shows foreign exchange rates in Albania, highlighting the euro's historic low of 92 lek against the local currency amid ongoing economic debates over foreign-currency inflows. |
Where Is All the Foreign Currency Coming From?
The unprecedented volume of euros entering Albania is also raising questions among economic observers about whether the formal economy fully explains the scale of these flows.
Some analysts have pointed to the possibility that informal or illicit money, potentially connected to organized crime and drug trafficking, could be contributing to the excess supply of euros and subsequently entering the legitimate economy through money-laundering channels.
However, these remain allegations, not established facts. There is currently no public evidence proving that illicit money is the main cause of the euro's decline.
Albania's money-laundering risks remain under international scrutiny, with the Council of Europe's MONEYVAL conducting an evaluation of the country in April 2026.
The "Super Lek" Creates Winners and Losers
A stronger lek makes imports and euro-denominated debt cheaper, but it hurts exporters and households receiving remittances, who receive fewer lek for every euro.
The key question now is not simply how strong the lek can become, but whether Albania can clearly explain the enormous foreign-currency flows entering its economy.