YEREVAN. – No one will get surprised by the exchange rate fluctuations in the Armenian financial market. But the tendencies of the last month exceed any expectations. After May 6 US dollar went up by AMD 20 or 5.1 percent which is unusual even for Armenia. During one month the US dollar rate grew from AMD 390 to AMD 411 in Armenia.

The reasons of such growths are not known yet. During the beginning of the year no one doubted that the dollar would cross the AMD 400 line. However, it was expected that the Central Bank would be able to control the situation.

Recently the idea that Armenia benefits from the US dollar growth has become rather popular. It is considered that the process will contribute to the growth of export and competitiveness of national goods in the domestic market as well. Theoretically the idea is true, however, it should not be overestimated. Armenian’s main trade partners are the EU and Russia but the Euro and Russian ruble are also in a depreciation phase.