YEREVAN. – The US dollar’s exchange rate is continuing its “triumphant campaign” in Armenia’s financial market.
The dollar’s average exchange rate against the Armenian dram (AMD) hit a new record, at NASDAQ OMX Armenia stock exchange on Wednesday, with AMD 414.73/$1. The last time when the US currency was this high in the country was on July 27, 2006.
The dollar gained value by AMD 3.70, or 0.9 percent, from Tuesday’s trading session.
The US currency’s exchange rate rose all the way to AMD 415/$1, but it subsequently began to drop due to the Central Bank’s intervention, and the session closed at AMD 413.75/$1.
The total sales were $22.66 million.
And Armenia’s exchange offices buy the dollar at the AMD 410-413/$1 range and sell it at the AMD 415-417/$1 range.