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Dollar’s gaining value against Armenian currency is positive – expert

12:40, 04.06.2012 Region: Armenia Theme: Economics

YEREVAN. – The US dollar’s gaining value against the Armenian dram is a positive phenomenon and it will contribute to the growth of export, chairman Vazgen Safaryan of the Union of Domestic Goods Producers stated during a press conference on Monday.    

“Our dram had gained value improperly, but the processes resulted in the weakening of the national currency,” said Safaryan. 

In his words, the importers were unprepared for the dram’s weakening and they suffer losses, and the Armenian State Commission for the Protection of Economic Competition needs to tighten the control on some markets.    

As per Vazgen Safaryan, the prices of some food products in Armenia increased in recent weeks as a result of the dram’s devaluation, since a considerable portion of such products are imported.

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