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——
