YEREVAN. – The US dollar’s exchange rate against the Armenian dram (AMD) will continue to rise and reach AMD 430/$1, Republic Union of Employers Chairman Gagik Makaryan said, during a press conference on Friday, and predicted that next year the dollar’s exchange rate will reach AMD 480-500/$1.    

In his turn, opposition Armenian National Congress member, economist Vahagn Khachatryan stated that Armenia needs dollars to pay off debts, and, also, the Central Bank’s reserves have reduced by approximately US$ 250 million.    

As per Gagik Makaryan, there are positive and negative sides to the change in the dram-dollar ratio. Specifically, the dram’s devaluation reflects positively on exporters and remittance receivers, but the negative side is that the prices of imported goods increase.