News
Newsfeed
News
Friday
March 29
Show news feed

YEREVAN. – The Central Bank (CB) of Armenia sold $13.65 million last week at the country’s currency market, the CB official website reports.

To note, the Armenian national currency, the dram (AMD), was rapidly depreciating past week, reaching from AMD 415/$1, at the beginning of the week, to AMD 420-421/$1, at the end of the week.

It is apparent, however, that the Bank’s currency “injections” contributed to stopping the fall of the dram, as the dollar stopped gaining value at the end of the week.   

To note, the Central Bank sold the foreign currency at an average exchange rate of AMD 418.73/$1. 

The seasonal factors as well as the Armenian banks’ and businessmen’s possible financial losses in Cyprus have paved the way for the dram to lose value.        

By Samvel Avagyan

!
This text available in   Հայերեն and Русский
Print