Sun, 27 April
13.1 C
Yerevan
USD: 390.33 RUB: 4.73 EUR: 443.14 GEL: 142.02 GBP: 519.57
spot_img

Former head of Central Bank: no grounds for dollar revaluation in Armenia

YEREVAN, March 28. /ARKA/. Bagrat Asatryan, a former chairman of the Central Bank of Armenia, said today that there are no grounds for thinking that the dollar may go up in Armenia.
He told journalists that transfers grew 11% in January, exports grew 30% in January and February and imports about 10%.

“It means there are no economic grounds for the dollar to rise,” he said.

The dollar traded at 410 to 415 drams in March and continued its upward motion to 420 drams.
Asatrayn said the dollar, as a rule, is driven up over a period between January and April by the usual for this season pressure at forex market.

He said that Armenia’s national currency devaluated by 13 drams over the first three months of this year against devaluation by 10 drams in Jan-March 2012 and 5.6 drams at the same period of 2011.
Asatryan also said that an intense outflow of money (about $500 million) from the country was seen yet in 2012, and things may continue.

The former head of the central bank didn’t rule out further devaluation of the dram, but said this situation shouldn’t be overdramatized.

“I am convinced that Armenia is not among those countries where price rise will be lower than average increase in Europe,” he added. —0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Top 10 banks of Armenia by loan portfolio for 1st H 2020

ARKA News Agency has singled out ten banks for their big loan portfolios as of June 30, 2020

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

LATEST NEWS

spot_imgspot_imgspot_img