Real effective exchange rate of dram increased by 0.3 percent in March

13.05.2013 16:47
Real effective exchange rate of dram increased by 0.3 percent in March

YEREVAN, May 13. / ARKA /. The real effective exchange rate of Armenia’s national currency, the dram, increased by 0.3 percent in March 2013 from February against foreign currencies, according to the monthly bulletin of the Central Bank of Armenia for  March 2013. But compared to March 2012 the real effective exchange rate of the dram decreased by 4.1%. At the same time, the nominal effective exchange rate of the dram against foreign currencies in March 2013 compared with February 2013 decreased by 0.24%, and by 4.1 percent if compared to March of last year.
Effective Exchange Rate is an index that describes the relative strength of a currency relative to a basket of other currencies. ($ 1 - 415.25 drams).  -0-


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