YEREVAN, December 2. /ARKA/. Dollar versus Armenian dram exchange rate hiked to 450-470 drams per USD at exchange offices in Yerevan on Tuesday December 2.

The official average market exchange rate was 435.26 drams per USD the day before.

Dram has recently hit the eight-year-high, having climbed by 16.6 points to 435 drams per USD on November 24. The central bank said it is due to currency adjustments required for increasing export competitiveness and maintaining foreign exchange reserves.

Some experts say dollar versus dram rate will stay below 500 drams per USD, fluctuating between 450 and 460 drams. Rates will get aligned if Russian ruble is stabilized, they say. –0--