YEREVAN. – The US national currency’s exchange rate is beginning to fall in Armenia’s financial market. In all likelihood, this occurrence is linked to the economic activeness in the lead-up to the New Year.  

As a result, the dollar’s average exchange rate, against the Armenian dram (AMD), comprised AMD 405.51/$1 at NASDAQ OMX Armenia stock exchange on Tuesday. To note, no trading was conducted at the stock exchange on Monday, and Tuesday’s rate is a 0.54-percent—or a 1.78-point—drop from the previous trading session on December 7. This is a fairly considerable fluctuation for Armenia’s financial market. 

Tuesday’s sales totaled $7.56 million at the stock exchange. It is apparent that if the Central Bank does not purchase the “extra” dollar from the market, the American currency will continue to sharply decline. 

The average exchange rate of the American currency dropped in Armenia’s cash foreign currency market, too. The exchange offices reduced the dollar’s buying exchange rate to AMD 404 or 405/$1, and they sell it at AMD 406-407/$1.