YEREVAN, November 22. / ARKA /. Head of an Armenian polling center has downplayed today allegations that Armenia’s upcoming membership in the Russia-led Customs Union would affect the stability of its national currency, the dram.
ARKA news agency asked Aharon Adibekyan, head of Sociometer polling center, to say what he thinks of the dram which is marking today its 20th anniversary. Adibekyan praised the Central Bank’s policy for ensuring the stability and predictability of the dram saying local entrepreneurs have nothing to worry about.
On November 22, 1993 Armenian’s Central Bank withdrew Soviet rubles form circulation replacing them with dram, which was crucial for the emergence of financial and banking system, as well as for economic development.
According to Adibekyan, Armenia’s accession to the Customs Union will have no negative impact on the stability of the Armenian currency, but he added that the deepening integration processes with Russia will make the Russian ruble a major “player” in the Armenian market to compete with U.S. dollar.
To ground his view Adibekyan argued the Customs Union does not intend to introduce a single currency for member states. -0-
