YEREVAN. – The American currency’s exchange rate is still rising sharply in Armenia’s financial market.   

The US dollar’s average exchange rate, against the Armenian dram (AMD), comprised AMD 412.50/$1, at NASDAQ OMX Armenia stock exchange on Wednesday, and this is a 0.41-percent—or an AMD 1.67—rise from Tuesday.

Wednesday’s sales totaled $1.35 million at the stock exchange, and the American currency was already offered at AMD 411/$1 by the end of the day’s trading session. 

The dollar again went up by an average of approximately AMD 1 in Armenia’s cash foreign currency market. Most exchange offices buy the US currency at AMD 411/$1 and some banks have set the buying exchange rate at AMD 412/$1. And, by and large, the American money is sold at AMD 414/$1.