YEREVAN, February 13. /ARKA/. Armenian national currency has not taken any sharp dive recently, Samvel Chzmachyan, chairman of the Union of Banks of Armenia, said Thursday.
“Armenian dram devaluated slightly against the U.S. dollar recently, and it is happening constantly due to things in the economy, but it returned its value back,” he said.
He refrained from making forecasts, but stressed that Armenia’s foreign exchange market faced no significant changes.
According to reports from the country’s forex market, Armenian dram started devaluating gradually in the beginning of this year. On January 8, the first business day of this year, the exchange rate set by the central bank was $1 = AMD 405.95 – the dollar rose 0.31 percentage points against the Armenian national currency, compared with December 28, 2013.
On February 12, the dollar gained 1.01 points against the dram and traded at 412.50 drams, on average, at Armenia’s forex market, and at NASDAQ OMX Armenia stock exchange, it went 0.14 points up and traded at 412.57 drams.
Year-on-year devaluation of the national currency is recorded as well, despite forex market volatility. The National Statistical Service of Armenia says the dollar-dram exchange rate averaged at $1 = AMD 409.63 in 2013, while in 2012 it was recorded at $1 = AMD 401.76. -0—
