YEREVAN. – The Armenian national currency, the dram, continues its “victorious campaign” in the financial market of Armenia, reported Haykakan Zhamanak daily.

“The dram has appreciated by about 2 percent in just one week.

“[But] it is not quite clear what this is due to. According to some viewpoints, this may be due to the factor of grape procurement.

“According to this viewpoint, the procurers of grapes sell significant amounts of dollars in the market to purchase the dram to be paid to their clients. If this viewpoint corresponds to reality, the revaluation process of the dram will stop soon.

“[But] note that the sharp fluctuations in the exchange rate of the dram—regardless whether they are depreciation or revaluation—have a negative impact on the [Armenian] economy,” wrote Haykakan Zhamanak.