Weighted average rate of Armenian dram to us dollar is 400 for $1

17.03.2010 21:08
Weighted average rate of Armenian dram to us dollar is 400 for $1

YEREVAN, March 17. /ARKA/. Mid-market rate of Armenian dram to US dollar in the stock market of Armenia reduced by 4.19 points on March 17, 2010 compared with March 16, 2010 making 400.10 drams for $1.

In difference with dram breakdown in March 2009 when dollar was increased from 305-308 to
330-380 drams for 1 US dollar, now devaluation of Armenian dram is taking place. From the period of March 1 to March 17 Armenian dram devaluated by 15.56 points – from 384.54 to 400.10 drams for one dollar.

Experts prognose new currency corridor in Armenia between 420-450 drams for 1 US dollar in 2010.

Currently there is a bit of panic in currency market of Armenia. Not all the banks sell currency waiting for further dram devaluation. —0—


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