Mon, 21 July
36.1 C
Yerevan
USD: 383.74 RUB: 4.93 EUR: 450.05 GEL: 141.25 GBP: 521.81

Armenian currency will begin to strengthen in mid July: Expert

YEREVAN, July 9. /ARKA/. Tatul Manaserian, head of Alternative think-tank, said today Armenia’s national currency, the dram that has depreciated heavily against the USD over the last couple of months will begin consolidating from the second half of July.

According to him, the strengthening trend will be backed by usual economic developments in summer months, associated particularly with seasonal agricultural work and inflow of foreign tourists.

According to Manaserian, despite global economic troubles, external factors that cause devaluation of the dram will not have a decisive influence on the currency’s exchange rate, unless there is sudden turmoil in foreign markets.

Manaserian also noted that this time the devaluation of the dram did not entail a rise in consumer prices. Quite the contrary, he said, prices of some 500 products and services declined. He, however, admitted that some goods have seen a dramatic rise in prices, but said “there is no room for panic.”

Manaserian said he was surprised at unfounded panic because of the devaluation of the dram.

“One can understand the concerns of businesses and especially importers, or people who receive their income in USD , however, it is puzzling to see the panic becoming common,” he said. -0-

spot_img

POPULAR

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

Armenian Market: Acceleration of Economic Activity is Positive for the Market

In the period from June 16 to June 30, 2025, the Armenian stock market demonstrated mixed dynamics.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Euro and dollar rise against Armenian dram, as Russian ruble falls slightly

The average market exchange rate of the US dollar against the Armenian dram as of July 14, 2025, increased by 0.23 points compared to July 11 and amounted to 384.14 drams.

LATEST NEWS

spot_imgspot_imgspot_img