YEREVAN. – The US dollar’s exchange rate continues to lose ground in Armenia’s financial market, and it is weakening as quickly as it was gaining strength in the country.

The primary reason for the American currency’s weakening is the growing demand for the Armenian Dram (AMD) during the agricultural season and the increasing number of tourists.     

So, the US currency’s average exchange rate against the Armenian Dram comprised AMD 413.35/$1, at NASDAQ OMX Armenia stock exchange on Wednesday, and this is a 0.41-percent—or a 1.71-point—fall from the previous trading session on Tuesday. Furthermore, the day’s trading closed at AMD 413/$1.   

And the total sales were $4.5 million. 

The dollar’s buying exchange rate dropped all the way to AMD 412/$, in Armenia’s cash foreign currency market, and it is sold at AMD 414/$.