Sun, 27 July
28.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Armenian dram plunges 14.1% in December

YEREVAN, January 12. /ARKA/. The Armenian national currency sank 14.1% in December 2014, compared with December 2013, the National Statistical Service of Armenia reports.

According to the statistical report, the U.S. dollar traded at 462.5 drams, on average in December.
The dollar leapt 10% against the dram in December, compared with November, as consumer prices in Armenia rose 3%.

Fever at Armenia’s forex market began on November 24, when the dollar surged 16.6 percentage points to 435 drams hitting its record high in eight years.

After the dollar hit a new record high on December 17, jumping 36.86 percentage points against the national currency to 527.20 drams, it shed 30.2 percentage points on the next day to 497 drams and the dram started recovering gradually thanks to the measures taken by the central bank and the government, but volatility still remains at the forex market. ($1 – AMD 471.46). —-0——

spot_img

POPULAR

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

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.

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.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img