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Durres Port cash stash linked to euro’s free fall in Albania

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7 mins read
8 years ago
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TIRANA, June 26 – The seizure of €3.5 million in cash at Albania’s main port of Durres this week in alleged drug profits has apparently confirmed speculations that money illegally entering the country is one of the main reasons behind euro’s free fall against Albania’s national currency. Police authorities in Albania seized about €3.5 million in two Toyotas on a trailer entering Albania from Belgium after being alerted by their European partners, in one of the largest stashes of cash in the country. The main opposition Democratic Party claims the stash belonged to one of the most dangerous drug gangs…

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Story Highlights

  • Despite an early June emergency intervention by Albania’s central bank, Europe’s single currency continues to trade at a 10-year low against the Albanian lek, with a spiral of negative effects for the country’s exporters, local traders, savers and recipients of remittances in Albania’s highly euroised economy

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