YEREVAN. – Depreciation of Armenian dram will not lead to uncontrolled inflation, deputy chairman of the Central Bank of Armenia (CBA) Nerses Yeritsyan said on Tuesday.

CBA has not changed the outlook for inflation published a week ago in the analysis for the next three years.

“Our estimates will not change. This year we expect inflation below 4 percent and 4 +/- 1.5 percent in the future,” Yeritsyan emphasized.

He noted that depreciation of dram against dollar means income in currency will increase in AMD. This is beneficial for exporters and those receiving remittances.

As for imports, the future growth of prices can not be denied, but it will not be critical for the overall inflationary background.

The US dollar rate was AMD 435/$1 on Monday, going up immediately by 16 drams. This is an unprecedented leap since the fall of dram in March 2009.