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International factors likewise impact rise in dollar’s exchange rate in Armenia

16:52, 20.06.2012 Region: Armenia Theme: Economics

YEREVAN. – There also are international factors which impact the rise in the US dollar’s exchange rate in Armenia, Finance Minister Vache Gabrielyan told news reporters, commenting on the recent fluctuations in the US currency’s exchange rate.  

“Dollar fluctuations likewise occurred in many countries which are our export and import partners. There was some seasonal demand in May and it continues in June. [But] I believe this will be regulated because July is always a calmer month at us,” noted the Minister and added:

“I merely state a fact which, if you look at historically, [you will see that] the lowest exchange rate has been in the months of July and August. [And] There is no proof the same thing will not happen this year, [too,]” said Gabrielyan. 

And to the observation that the cause for the increase in the dollar’s exchange rate in Armenia was the country’s parliamentary elections held on May 6, the Finance minister responded:

“The matter connected with the elections always exists, according to which the investment projects are not implemented at the same speed. But I believe the elections did not bring shocks at us and there was no regime change. And I do not believe the projects will continue to be postponed.”

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