Tue, 8 July
29.1 C
Yerevan
USD: 384.19 RUB: 4.90 EUR: 450.58 GEL: 141.45 GBP: 521.65

Chzmachyan: no sharp dive of armenian dram seen recently

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—

spot_img

POPULAR

Moody’s affirms Armenian government ratings at Ba3 with stable outlook

On June 26, 2025, Moody's affirmed the long-term issuer ratings in national and foreign currencies and senior unsecured debt in foreign currency of the Armenian government at Ba3, maintaining the stable outlook, the press service of the Ministry of Finance of Armenia reported.

Inflation of 3.9% registered in Armenia in June

In the consumer market of Armenia, 12-month inflation in June of this year amounted to 3.9%, according to the report of the National Statistical Committee (NSC) of Armenia.

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

Net inflow of remittances to Armenia from abroad increased by 13.9% over 5 months

The net inflow of private remittances in Armenia from abroad sent through the  banks in January-May 2025 amounted to $511.7 million, compared to $449.4 million in January-May 2024, according to a report by the Central Bank.

LATEST NEWS

spot_imgspot_imgspot_img