Armenian currency depreciates at alarming rate

Haykakan Zhamanak

08:30, 19.04.2012

YEREVAN. – Armenia’s national currency, the dram (AMD), is devaluing at a disturbing pace, Haykakan Zhamanak daily writes.  

“One [US] dollar’s average price was AMD 393.75 at Armenia’s stock exchange yesterday [Wednesday]. One dollar was AMD 392.45 merely one week ago.

The dram’s such depreciation, which seems insignificant at first, in reality is not in the plans of the government and the Central Bank, and this will result in stimulating the barely restrained inflation.

In addition, it is noteworthy that the dram is devaluing against the backdrop of growing private transfers,” Haykakan Zhamanak writes.

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