YEREVAN. – The pace of devaluation of the national currency of Armenia, the dram, is accelerating in recent days in the financial market of the country, and this does not fit into the logic that has formed in the years past; according to this logic, now, the dram should have increased in value, reported Haykakan Zhamanak newspaper.

“The problem is that, now, the population [of Armenia] is taking out the cash foreign currency from the reserves to carry out New Year purchases, and bringing [it] to the market, [and] which should have led to the increase in the value of the dram.

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“But depreciation of the dram means that there is a shortage of foreign currency in the market.

“It is still hard to tell what the reason is for this,” wrote Haykakan Zhamanak.