Outlooks for Armenian dram devaluation melting away

02.07.2010 16:08
Outlooks for Armenian dram devaluation melting away

YEREVAN, July 2. /ARKA/. Outlooks for devaluation of Armenian national currency are gradually melting away, Vache Gabrielyan, deputy chairman of the Central Bank of Armenia, said Thursday in Yerevan, at the seventh bond congress of CIS and Baltic countries.

“There were such outlooks in the first quarter, while now the national currency is increasingly strengthening,” he said. “After 2009, this process started running faster than expected.”
Gabrielyan said that the central bank acted as purchaser.

“We don’t retain the exchange rate. The opposite, we are trying to lessen volatility.”
The deputy chairman of the central bank also said that investors’ interest in securities had already started growing.

On March 3, 2009, the Central Bank of Armenia returned to the floating exchange rate policy.

In 2009, dram/dollar exchange rate was fluctuating between AMD 360 and 380 per dollar, just as the central bank’s specialists had predicted. ($1 = AMD 367.5). -0---

Tags: , , Новости Армении АМИ Новости-Армения

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