Armenian dram crashes by almost five points at foreign exchange market on Wednesday

06.06.2012 18:39
Armenian dram crashes by almost five points at foreign exchange market on Wednesday

YEREVAN, June 6. /ARKA/. Armenian dram depreciated against U.S. dollar by five points on Wednesday crashing to 413.26 drams per $1.
Stock rate of dollar jumped by 3.7 drams to 414.73 drams.

Commenting on the further course of U.S. dollar at Armenian stock exchange, FOREX CLUB analyst Mikayel Verdyan told ARKA that if the Central Bank goes on with its intervention into foreign exchange market within the next few days, the stock rate will somewhat stabilize within 410 drams per $1.

“This forecast are justified by the fact that the Central Bank has already intervened into the exchange trades,” the expert added.
According to the Armenian Stock Exchange, 116 USD transactions valued at $22.7 million have been processed today ( nearly 9.4 billion drams).

In the opposite case, according to Verdyan, the rate can reach 417 drams per $1.
Strengthening of USD is prompted by big demand for this currency in all countries, including Armenia.

“Increase of the exchange rate is caused by some outer factors, particularly political concerns of the market members around euro what raises  trust for dollar,” Verdyan added. E—0--


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Tags: , Новости Армении АМИ Новости-Армения

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