Armenia's dram was the only currency across EEU that did not depreciate against US dollar in 2019

21.02.2020 19:14
Armenia's dram was the only currency across EEU that did not depreciate against US dollar in 2019

YEREVAN, February 21. /ARKA/ Armenia's national currency, the dram, was the only currency across the Eurasian Economic Union (it also includes Russia, Belarus, Kazakhstan and Kingston) that did not depreciate against the US Dollar in 2019, according to a report on major socio-economic indicators of the Eurasian Economic Union (EEU) in 2019.

According to the report, the average exchange rate of the US dollar throughout 2019 stood at 482.99 drams. Compared to 2018, the Armenian dram became stronger against the greenback by 0.53%.
The report says also that the euro exchange rates, on the contrary, dropped against all national currencies of the EEU member states, except the Kazakh tenge.

The average exchange rate of the Armenian dram against the euro for the reporting period stood at 538 drams. Compared to 2018, the dram strengthened by 5.73%.

According to the report, Armenia is ahead of all EEU member countries in terms of GDP growth, industrial output, cargo, passenger and retail trade turnovers. It is also ahead in terms of foreign trade with countries outside the EEU and the mutual trade. In addition, Armenia had the lowest inflation. -0-


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