Bank of Albania finds no misalignment in value of lek

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A Bank of Albania paper, published on Thursday, says there is little evidence to suggest the real exchange rate in Albania is misaligned from its mid-term equilibrium path.

Ilir Vika and Erjon Luçi, the paper's authors, assess the relationship between the Albanian lek and the euro exchange rate and some key fundamentals, as well as the role of other policies and factors that might disturb its equilibrium. The authors are interested in learning whether the exchange rate in Albania, in the absence

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