Ameriabank official says dram to lose its value this year

Banks

YEREVAN, February 26, /ARKA/. Tigran Jrbashian, Ameriabank’s development director, said today Armenia’s national currency, Dram, will be losing its value throughout the year.

Speaking at a news conference he said the devaluation will not be as sharp as it was in 2009 March when the Central Bank decided to reverse to the floating exchange range. As a result the Dram lost 67 percentage points in just a day falling from 305 to 372 per one USD. According to Tigran Jrbashian, the Dram will be losing its value steadily but gradually, forced by capital flows, negative trade balance.

Today Armenian Dram traded at 384.37 per one USD, losing 2 percentage points from February 25.  -0-

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