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Armenian dram rises- newspaper

12.07.2012 15:46

 Armenian dram rises- newspaper
YEREVAN, July 12. /ARKA/. Armenian dram rate enhanced by 6 points on Thursday, for the first time over the past two years, Orakarg newspaper (Agenda) reports.
The four working days ( July 9-11) have broken the ongoing tendency of dram devaluation. This week dram continued strengthening and it seems like the tendency will go on with gaining a shape.
On July 11, the average weighted purchasing cost of the U.S. currency was 411.6, and selling- 415.7 drams. On July 9 the banks bought the dollar at 417 drams per $1.
According to the source, dram rate grew by 2.5 points in intra-banking market. Five-dram margin between dollar purchasing and selling speaks of expectations on the forex market. (Usually margin is 2-3 drams).
Orakarg says dram also rose at NASDAQ OMX Armenia- on July 9 the average weighted cost of $1 was 418.25 drams, and on July 11- 413.35 drams per $1.
Thus, taking into account the total amount and number of deals it can be concluded that the strain at the forex market has eased.
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