YEREVAN, June 6. /ARKA/. The former Chairman of Armenia’s Central Bank Bagrat Asatryan recommends to keep the savings in “basket of currencies.”
“Since dram became the national currency of Armenia in 1993, I have been recommending everyone to keep a part of savings in national currency, and the rest- in some preferable for them currencies. Deposits should be diversified, especially if it refers to savings,” he said at the press conference on Wednesday.
The expert recommended the authorities to do the same.
“We are a country with bi-currency basket- over 50% of our foreign trade embraces the euro zone states, and we also hold our reserves in dollars, what raises risks for losses,” he said.
However, the principal task here is not revenue, but reliability of deposits, Asatryan added.
He recommended his compatriots to keep savings in the currency which they will use in their further monetary processing.
Over the past month the Armenian national currency has devaluated against the U.S. dollar by 19,85 drams or 5% (from 393.41 to 413.26 drams per $1). The maximum high rate of the USD against AMD was recorded on June 6. (413.26 per $1).—0–
