YEREVAN, July 23. /ARKA/. Tendency of dram strengthening in Armenia is seasonal and will stop at the end of the year, said ex-head of CB Armenia Bagrat Asatryan.
“We returned to the regime of floating rate, prices go up which brings to dram strengthening”, he said.
Important role in dram strengthening plays the phenomenon of “housewives” in summer period when canning of vegetables and fruit starts in Armenian families.
“In summer Armenian families start to spend their accumulated money which brings to dram strengthening “, said Asatryan.
From June 21 to July 21 Armenian dram revalued towards US dollar by 7.69 points or 2.1% (from 371.7 to 364.01 drams). >From the beginning of summer maximum low margin of US dollar rate towards Armenian dram was registered on June 17 when the rate was 363.35 drams for 1 US dollar. –0–
