YEREVAN, February 24, /ARKA/. A former Armenian prime minister Hrant Bagratian argued today that Armenia’s national currency is on the track of losing its value and will be trading at 450-460 drams per one USD, up from current 382 Drams in May.
However, he did not rule out that the authorities will channel resources from the international financial assistance to the forex market to thwart Dram’s downfall.
Hrant Bagratian said money transfers sent by Armenians working abroad home to relatives is not a panacea. “It is a big mistake to think that the Armenian Diaspora in the post-Soviet territory can save us by their remittances,’ he said.
According to Central Bank of Armenia, the volume of money transfers last year dropped by 31% year-on-year to $1.57 billion. -0-
