Ameriabank sees no reason for destabilization of the Armenian dram’s exchange rate

24.10.2017 18:35
Ameriabank sees no reason for destabilization of the Armenian dram’s exchange rate

YEREVAN, October 24. /ARKA/. Arman Barseghyan, Retail Operations Director at Ameriabank, downplayed today allegations that the exchange rate of the Armenian national currency, the dram, may destabilize, saying there are no reasons whatsoever for it. According to him, the Armenian dram is going through a relatively stable period.

"The situation with the exchange rate of the dram is stable at this moment, and I see no reason that could destabilize the national currency. I do not want to make predictions, but there are no reasons for sharp fluctuations at the moment," Barseghyan said.

In March 2017, the Central Bank suspended the easing of monetary policy, setting the refinancing rate at 6%. During 2016, the rate was lowered 8 times.

To date, the Armenian dram is showing a depreciation tendency. According to the Central Bank, the Armenian currency has been depreciating for more than two weeks - the dollar has been rising since October 3.

During this period, the dram depreciated by 0.88% and today, one USD is traded at 482.25 drams. In January the USD traded at 486.01 drams, in June its value fell to 483.36 drams, and in September it rose to 478.24 drams per dollar. -0-


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