Euro loses 21 points against Armenian dram after ECB announcement

23.01.2015 20:36
Euro loses 21 points against Armenian dram after ECB announcement

YEREVAN, January 23. / ARKA /. European Union’s single currency has lost 21 points against Armenian national currency, the dram, today and was trading at 529.14 drams, the Central Bank said.

The regulator explained the drop in euro’s value by developments in the world currency markets, which responded to European Central Bank’s decision to start the quantitative easing program. By the way, on January 12, the euro exchange rate in Armenia was 561.08 drams.

On January 22 European Central Bank (ECB) president Mario Draghi unveiled bigger-than-expected quantitative easing measures saying the combined monthly purchases of public and private sector securities will amount to €60bn euros.

“They are intended to be carried out until end-September 2016 and will in any case be conducted until we see a sustained adjustment in the path of inflation," he added, meaning the package will amount to at least €1.1 trillion. -0-


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