Finance minister: volatility on Armenia’s forex to continue

31.03.2010 20:29
Finance minister: volatility on Armenia’s forex to continue

YEREVAN, March 31. /ARKA/. Things on Armenia’s foreign exchange will remain volatile, Armenian Finance Minister Tigran Davtyan said Wednesday at a press conference.

He said that the central bank would curb fluctuations on the foreign exchange.

The Armenian dram have plunged 19.82 percentage points against the US dollar from AMD 384.54 to 404.36 per one dollar over the period between March 1 and 18.

However, the dram strengthened to 394.40 per one dollar by March 24.

Today one dollar trades at AMD 398.29.

Some experts told ARKA News Agency that the dollar would trade at AMD 400 and over.

In particular, Manuk Yerghnyan, the head of Economy and Values research center, predicts $1=AMD 380 average exchange rate for 2010, and says the dollar value will fluctuate between AMD 370 and 460.-0--


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