[ad_1]
Since January, the dollar has strengthened by many currency points against the lek.
If at the beginning of the year 1 dollar was exchanged for 107 lek, from March-July the exchange rate has fluctuated between 110-117 lek, while the main global currency has also strengthened in relation to the euro and other currencies.
But, this strengthening of the dollar has a direct impact on our economy, more specifically, on the price of oil.
In the formula made transparent by the Board created between the government and hydrocarbon entrepreneurs, it can be seen that oil and its by-products are bought in dollars per ton, according to the Platts Mediterranean Exchange.
Under these conditions, the relationship between the dollar and oil is fair. As much as the currency strengthens, it is reflected in the price of oil in the country. Meanwhile, a premium is added on top of this, also calculated in dollars. Then all this is converted into lek based on the exchange rate announced by the Bank of Albania. In July, we got an average of 90,000 lek more expensive per ton/diesel due to the exchange rate, or about 8.5 lek per liter.
The strong dollar is becoming a global problem, write the prestigious financial magazines, as all international trade takes place in this currency and more and more countries are being hit by the import of goods. The strengthening of the dollar comes after the Bank of America’s decision to aggressively raise interest rates in order to fight inflation.
top channel
[ad_2]
Source link
