How is the official exchange rate calculated?
The official exchange rate for the major currencies, i.e. the euro and the US dollar, is calculated as the average quotation at a certain moment of the day of the 6 banks and 4 foreign exchange bureaus that have the highest volumes in the foreign exchange market. For the other currencies in the “official exchange rate” table, the calculation takes into account the rate of each of these currencies against the euro or the US dollar, at the time of its calculation.
For example , if the US dollar average quotation were ALL 110.00 and, at the same time, the exchange rate of the Swiss Franc against the US dollar were 1 USD = 1.10 CHF, then the exchange rate CHF/ALL in the “official exchange rate” table would be 1 CHF = 100.00 ALL. For more information, see the relevant Regulation at the website of the Bank of Albania.
How can I get information on the official exchange rate?
The exchange rate is calculated every business day in the banking system of the Republic of Albania. In addition to daily values, the Bank of Albania calculates the monthly and annual average of currencies in the approved “official exchange rate” and publishes them on its website.
The information on the official exchange rate on a given day for one or all the currencies of the table and the monthly or annual average of each currency may be obtained by submitting a request at the Bank of Albania via email or in a letter form. For protocol-registered requests, the Bank of Albania responds in the same form.