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Local manufacturers stricken hard by artificially overrated value of Armenian dram

22.03.2010 10:23

Local manufacturers stricken hard by artificially overrated value of Armenian dram

YEREVAN, March 22. /ARKA/. Artificially overrated value of Armenian national currency has struck hard at local manufacturers, Vahan Hovhannisyan, the head of Armenian Revolutionary Federation Dashnaktsutyun’ faction in National Assembly, said Friday at a briefing.

The lawmaker said that the Armenian authorities, attracted loans from the outside and plunged into new debts for injecting their foreign currency reserves in foreign exchange market every month to retain the national currency’s value.

But these resources dwindled and the drum plummeted against the dollar.

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