YEREVAN. – As a result of the fluctuations in Armenia’s national currency, the dram’s (AMD) exchange rate against other currencies, the country’s banking system suffered a loss worth AMD 1.9 billion (approx. $4,630,715) in the first six months of 2012, the Central bank’s financial stability report states.    

At the same time, and as a result of foreign currency revaluation, eleven banks suffered losses, whereas ten banks registered gains. Also, the country’s banking system secured AMD 5.9 billion (approx. $14,379,590) pure income from foreign currency trading.    

In line with the Central Bank’s report, the Armenian dram’s exchange rate against the US dollar dropped by 7.71 percent in January-June 2012.