Fri, 3 October
18.1 C
Yerevan
USD: 383.34 RUB: 4.70 EUR: 450.50 GEL: 140.80 GBP: 516.82

Armenian dram to continue gaining strength against USD

YEREVAN, November 25, /ARKA/. Armenia’s national currency, the Dram, will continue to gain strength against USD until the end of this year, Mikael Verdian, an analyst of Forex Club Group of Companies, predicted today.

Speaking at a news conference today at Novosti international press center, he said Forex Club’s forecast is that the exchange rate of USD will drop to 353-350 Drams by the end of the year. The Dram’s exchange rate rose from 365.29 per one USD to 361.67 Drams in a time span between November 10-24. The lowest exchange rate was recorded on November 1 when one USD dollar was trading as low as 357.98 Drams. The highest rate was reported in June when it traded at 377.97 Drams. Today it traded at 361.67 Drams.

According to Verdian, the increasing amount of remittances form Armenians working abroad is another factor to help Dram gain strength. He said next year one USD will be trading on average at 360-263 Drams.

‘We find it a comfortable indicator for Armenian economy. We may also state that the exchange rate will help GDP growth. In our opinion, the exchange rate will be 362 drams at the end of 2011,’ he said.  -0-

spot_img

POPULAR

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img