Armenian dram not to lose against us dollar: Ameriabank CEO

22.07.2010 20:26
Armenian dram  not to lose against us dollar: Ameriabank CEO

YEREVAN, July 22, /ARKA/.  Armenia’s national currency, the Dram, will not weaken against US Dollar, Artak Hanesian, Ameriabank CEO and chairman of its Directorate, told a news conference today.

‘In view of the changes proposed by the Central Bank regarding Procedure 2 (it is aimed against dollarization of the economy), the correlation of Armenian  Dram to USD will remain stable,’ Hanesian said.

He, however, said seasonal fluctuations  are quite possible  because ‘autumn  is a period of active procurements when the exchange  rate may fluctuate  upward.’ But he said it is  not going to be chaotic. Tigran Jrbashian, Ameriabank marketing director said these fluctuations will not be sharp.

‘As we predicted the devaluation effect of the dram, registered in March, resulted in a substantial growth of exports,’ he said.

The Armenian Dram has gained by 7.69 points in a time span from June 21 to July 21 strengthening from 371.7 Drams per one USD to 364.01 Drams. The  USD hit the lowest from the beginning of summer on June 17 when it was trading at 363.35  Drams. Today’s exchange rate is  365.22 Drams per one USD.-0-

Read the news first and discuss them in our Telegram

Tags: , , Новости Армении АМИ Новости-Армения

Related Posts