YEREVAN. – The Armenian Dram (AMD) continues to lose value against the US Dollar and other currencies, and Monday was not an exception. 

One dollar’s average exchange rate comprised AMD 389.47, at NASDAQ OMX Armenia stock exchange on Monday, which is a 0.09-percent increase from Friday.

In general, $8 million were sold at the stock exchange on Monday. And it is possible that the Central Bank has intervened in the exchange rate. According to the Bank, the latter sold $7.9 million at the stock exchange last week.   

The dollar’s exchange rate increased at Armenia’s cash foreign currency market, too. Following Monday afternoon, the exchange offices purchased one dollar at AMD 388, and started selling at AMD 391. 

The Central Bank also continues to reduce the base money, which will help the dram gain strength and the exchange rate will stabilize.  

And the dram’s quantitative reduction will result in a growing demand for the Armenian currency, and this could reflect on the exchange rate.