Dollar devaluation in Armenia triggered by outside developments - Economist

24.09.2015 12:08
Dollar devaluation in Armenia triggered by outside developments - Economist

YEREVAN, September 24. /ARKA/. The dollar went down last two week in Armenia because of outside developments, Vilen Khachatryan, an economist, told ARKA News Agency on Wednesday.

The dollar slid 1.7% or by 8.5 drams over a period between September 11 and 23 to average exchange rate - 476.53 drams per one dollar.

Khachatryan said outside factors have had greater impacts on that than economic developments inside the country.

In his words, the central bank didn't interfere in the foreign exchange market and foreign currency inflows from exports and from money transfers had no major impacts on the dollar.

The economist thinks that the U.S. Federal Reserve's decision to leave the key rate unchanged.

«Earlier, I predicted that the Federal Reserve will not increase the rate, and this came true,» he said.

«Investors got this freedom and the dollar's exchange rate countdown is under way now.»

Khachatryan thinks the dollar's devaluation was also triggered by increase in oil prices.

Besides, the U.S. president's visit to China is forming some expectations and is sending certain impetuses to global financial markets, and this is impacting the dollar. --0--


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