YEREVAN, May 22. /ARKA/. The US Dollar’s value at trading today at Nasdaq OMX Armenia stock exchange has risen by 2.45 drams to record high 401.95 drams. An analyst for FOREX CLUB, Mikael Verdyan, predicted, when asked to comment by ARKA news agency that the exchange rate will not exceed 403.5 drams in the next several days, and may drop to 400 drams by the end of the week.
He said his forecast is supported by the fact that today the Armenian Central Bank intervened in foreign exchange trading in a bid to stop further depreciation of the national currency. According to the stock exchange data, today 100 transactions were effected worth a total of $20 million (in dram equivalent more than 8 billion drams).
Verdyan suggested that it was the Central Bank that satisfied the demand. He said the selling rate of cash USD this week will be in the range of 400-405 drams. The euro was traded today at 511.93 drams. -0-
