Armenian dram strengthens against dollar in June

01.07.2014 14:15
Armenian dram strengthens against dollar in June

YEREVAN, July 1. /ARKA/. The Armenian dram strengthened 0.4% versus U.S. dollar over June compared to last year June level: USD was traded at 411.1 drams in the period, on average, ArmStat reported. It is the first time the national currency strengthened after four months’ devaluation since the beginning of the year.

An apparent trend for devaluation of the national currency was recorded in January-April. Dram fell by about 2% versus USD in January-April. According to ArmStat, USD versus dram rate was 407.35 in January, 411.54 drams in February, 414.22drams in March and 414.31drams in April. The exchange rate started decreasing in May and was 413.32 drams per USD.

Since the beginning of the year, the central bank carried out, for many time, interventions in the forex market and sold about $137 million and bought 27.9 million drams in the first half of the year in particular. ($1- 407.28drams). -0-


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