YEREVAN. – The US dollar’s exchange rate continues to sharply increase in Armenia’s financial market. Even though the dollar is gaining value throughout the world, in Armenia this is also a result of the national currency, the dram’s (AMD) weakening after the country’s May 6 parliamentary elections. 

The dollar’s average exchange rate against the dram comprised AMD 394.47/$1, at NASDAQ OMX Armenia stock exchange on Friday, and thus the rate exceeded AMD 394/$1 for the first time this year.  

The total sales were $2.7 million.

The dollar is gaining value in Armenia’s foreign currency market, too. The exchange offices buy it at a maximum of AMD 393.5/$1 and sell it at a minimum of AMD 395/$1.