YEREVAN , July 26, /ARKA/. Armenian commercial banks expect the national currency, the Dram, to start losing its value against USD and other hard currencies, in September, according to findings of a survey conducted among local banks, posted on the Central Bank’s official website.
According to the findings, the dram is expected to devaluate to 372.95 per one USD in September and to 376.76 by the end of the year. Currently the USD is trading at 366.33 Drams.
The majority of banks do not expect the interest rates on deposits to change, however, the number of banks predicting that the interest rates on deposits in foreign exchange will go down is twice bigger ( 7 banks) than the number of banks predicting the same regarding deposits in Drams. According to the bulk of banks, the interest rates on loans will not change either. –0-
