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No forex trade in Armenian stock exchange caused by high uncertainty – expert

05.12.2014 17:31

No forex trade in Armenian stock exchange caused by high uncertainty – expert

YEREVAN, December 5. /ARKA/. The current no-forex-trade situation in the Armenian stock exchange is caused by high level of uncertainty that reflects the situation in the Russian foreign exchange market, head of mathematical modeling at the Armenian State University of Economics Professor Ashot Tavadyan said.

No USD transactions were carried out in NASDAQ OMX Armenia on Thursday for the third consecutive day. Dollar bid price was 447 drams per $1 on Thursday December 4.

Since the beginning of the year, ruble versus dollar rate dropped by more than 30% and continued falling to record lows. On Thursday the rate was above 52 rubles per dollar and 65 rubles per euro. Several factors contributed to the 2014 ruble depreciation in the international markets, including the Ukrainian crisis and anti-Russian sanctions and reduction in oil prices.

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