YEREVAN, July 22, /ARKA/. Armenia’s national currency, the Dram, will not weaken against US Dollar, Artak Hanesian, Ameriabank CEO and chairman of its Directorate, told a news conference today.
‘In view of the changes proposed by the Central Bank regarding Procedure 2 (it is aimed against dollarization of the economy), the correlation of Armenian Dram to USD will remain stable,’ Hanesian said.
He, however, said seasonal fluctuations are quite possible because ‘autumn is a period of active procurements when the exchange rate may fluctuate upward.’ But he said it is not going to be chaotic. Tigran Jrbashian, Ameriabank marketing director said these fluctuations will not be sharp.
‘As we predicted the devaluation effect of the dram, registered in March, resulted in a substantial growth of exports,’ he said.
The Armenian Dram has gained by 7.69 points in a time span from June 21 to July 21 strengthening from 371.7 Drams per one USD to 364.01 Drams. The USD hit the lowest from the beginning of summer on June 17 when it was trading at 363.35 Drams. Today’s exchange rate is 365.22 Drams per one USD.-0-
