Armenian Dram may depreciate to 420 per one USD

YEREVAN, March 18, /ARKA/. Arsen Sarkisian, the chief dealer of Cascade Bank, predicted today a further depreciation of the national currency to 420 Drams per one USD. On March 17 Dram lost 4.19 points from the day before and was traded at 400.10 per one US Dollar.

According to Mr. Sarkisian, it is, however, difficult to make a concrete prediction, because a lot depends on the market and objective factors, including what the Central Bank may do to stop the depreciation.

He, noted, that there are some suppositions that the depreciation will not go beyond 420 Drams

Commenting on reports that some commercial banks refuse to sell US Dollars, he said it is due to the fact that the banks do not manage to buy as much US Dollars as the demand is. He added that one should have in mind also that people rush to buy foreign currency when Dram begins to lose value, which leads to speculations at the market forcing the banks to impose some restrictions.

Arsen Sarkisan added that the depreciating Dram will have a positive impact on the economy to spur exports, but it also affects individuals because the process leads to rise of commodities prices. -0-

spot_img

POPULAR

EBRD’s AMD-denominated bonds listed on AMX; Converse Bank acted as underwriter

The AMD-denominated bonds issued by the European Bank for Reconstruction and Development (EBRD) have been listed on the Armenia Securities Exchange (AMX).

Armenian investment company assets have grown approximately sixfold since 2021, exceeding 400 billion drams: Dimension Investments CEO

Armenian investment company assets have grown approximately sixfold since 2021, from 67 billion drams to over 400 billion drams, said Grigor Harutyunyan, CEO of Dimension Investments.

Cube Invest contributes to the development of Armenian investment market

At the initiative of leading investment company Cube Invest, the first-ever "INVESTMENT PERSPECTIVES 2026" conference was held, bringing together leading financial and banking experts, high-ranking representatives of government agencies and organizations, investors, and entrepreneurs.

Significant inflows of transfers and capital to Armenia boosted reserves to a record $6.5 billion in August – WB

Thanks to significant remittance and capital inflows, gross reserves in Armenia rose to a record $6.5 billion in August, equivalent to 4.3 months of import coverage, according to the World Bank's Armenia "Monthly Economic Update – September 2026."

Why Armenia’s capital market remains bank-driven: 5 insights from Landmark Capital’s CEO 

Gor Gevorgyan assesses Armenia's economy as growing, the country has significant private capital, and the infrastructure and legislative framework for market development as sufficient.

LATEST NEWS

spot_imgspot_imgspot_img