Tue, 29 April
14.1 C
Yerevan
USD: 389.45 RUB: 4.78 EUR: 443.12 GEL: 141.62 GBP: 521.16
spot_img

Central Bank of Armenia does not see any reasons for dram revaluation

YEREVAN, December 29. /ARKA/. Central Bank of Armenia doesn’t see any reasons for possible revaluation of national currency”, said Artur Javadyan, Chairman of the Central Bank of Armenia.

“According to fundamental indicators of economy, there are no pre-conditions for abrupt revaluation of dram”, said Javadyan during the on-line conference in the site www.armbanks.am. Usually, the rate deviates from balance due to short-term, speculative or philological factors which recently can be observed in the Armenian market.

Central Bank of Armenia will follow the policy of floating exchange rate when the rate is defined by the ratio of demand and supply. CB can create additional demand or supply through buying currency only for smoothening abrupt variations of the rate.

“Interventions in the currency market can vary – CB had not only sold currency but, for example last year CB bought it for avoiding abrupt rise in the cost of dram”, he said. –0–

spot_img

POPULAR

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Instruments for supporting SMEs in Armenia were discussed with bankers at the Ministry of Economy

Financial instruments for supporting small and medium-sized businesses (SMEs) were discussed by Deputy Minister of Economy of Armenia Lilia Sirakanyan and bank representatives.

Armenia ratifies EUR 10.1 million investment agreement with EIB on Yerevan’s Second Energy Efficiency Program

The Armenian Parliamentary Committee on Financial, Credit and Budgetary Affairs gave a positive conclusion at its meeting on Friday on the ratification of the agreement on the investment grant for the "Second Yerevan Energy Efficiency Program" in the amount of EUR 10.1 million.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img