Sat, 4 October
8.1 C
Yerevan
USD: 382.76 RUB: 4.67 EUR: 449.25 GEL: 140.62 GBP: 514.85

Experts predicts no radical depreciation of Armenian national currency

YEREVAN, February 11, /ARKA/. Manuk Herrgnyan, chairman of Economy and Values research center and director of IV Consulting, downplayed today speculations that Armenian national currency Dram may face a heavy depreciation this year.

Speaking at a news conference at Novosti international press center, he said the Central Bank was wise to stop intervening in the forex market to buy up drams and support an exchange rate at a fixed level in the first weeks of the year, that resulted in some losses.

In his opinion, the Dram may come under certain pressures later this year, but no ‘serious ‘ depreciation is expected.

On March 3, 2009 Armenia’s Central Bank let the Dram float against the dollar. In the space of a few hours on March 3, the dram went from 305 to the dollar to as low as 400 to the dollar, a loss of up to 30 percent of the currency’s value. Today one USD is traded at 378.90 Drams.

Manuk Yerganian warned also that a second wave of global crisis is likely. “Armenia’s economic dynamic this year will be contingent on global developments and the main question is will the second wave come or not,’ he said, adding that Armenia should be prepared for it by developing a set of tools that could be used to fight the second wave. -0-

spot_img

POPULAR

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img