YEREVAN. – The drop in the exchange rate of the Armenian national currency, the dram, cannot create risks for the state budget in the short-term future, Deputy Minister of Finance Suren Karayan told Armenian News-NEWS.am.
Overall, as per the minister, solely the market can forecast the future “performance” of the rates.
“The foreign currency exchange rate at us depends on the demand and the supply. The exchange rate is floating and unregulated at us,” Karayan added.
The American national currency (USD) exchange rate against the Armenian dram (AMD) comprised AMD 435/$1 in Armenia on Monday. As a result, the rate soared by AMD 16 in just one day, and this is a huge increase since the fall of the dram in March 2009.
