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Dollar still losing ground in Armenia

Dollar still losing ground in ArmeniaApril 23, 2013 | 17:26

YEREVAN. – The American national currency’s average exchange rate, against the Armenian dram (AMD), comprised AMD 413.18/$1 at NASDAQ OMX Armenia stock exchange on Tuesday.

As a result, the dollar lost significant value yet again. The aforesaid exchange rate is a 0.27-percent—or an AMD 1.14—drop from the previous trading session on Monday. Over the past week, the US national currency lost value by AMD 3.8.

Tuesday’s sales totaled $2.51 million at the stock exchange.

At the cash foreign currency market of Armenia, the US dollar’s selling exchange rate is already at AMD 414/$1 and that of buying is at AMD 410-411/$1. 

Armenia’s market apparently expects a further weakening of the American national currency.

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