Albania’s central bank emergency intervention not enough to stop euro’s free fall

TIRANA, June 18 – Europe’s single currency continues losing ground against Albania’s national currency despite the early June emergency intervention by the country’s central bank temporarily stopping euro’s free fall which is negatively affecting the country’s exporters, local traders, savers and recipients of remittances in Albania’s highly euroised economy. Europe’s single currency fell to 125.77 lek on Monday after temporarily gaining ground following Albania’s central bank’s June 6 announcement of emergency intervention to buy excess euro from the local currency exchange market until the national currency stabilizes. At 125.77 lek, the euro registered the fourth decline in a row after…