Wed, 3 September
29.6 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Armenian dram may drop by another 15-20% in the next months – newspaper

YEREVAN, March 27. /ARKA/. The Armenian dram may further drop – by another 15-20% in the next months, provoking a new inflation wave, former prime-minister of Armenia, member of the National Assembly Hrant Bagratyan said in his interview to Zhamanak (Time) newspaper.

The current dram versus dollar rate does not reflect the actual situation, he said.

Two factors help maintain the current rate level, according to Bagratyan. First, remittances continue to arrive in the country, and, the second, state reserves are reduced by some 50-100 million dollars every month, he said.

“It is an artificial rate that is maintained to avoid substantial change in dram versus dollar rate and to prevent high inflation. But everybody understands that dram will depreciate by another 15-20% in several months, unleashing a new wave of inflation,” the ex-premier said. –0–

spot_img

POPULAR

Cryptocurrency in Armenia: Stringent Regulations and Elevated Expectations

The future of cryptocurrencies in Armenia was a topic of discussion among participants at the Armenian Cryptocurrency Assets Forum, which recently took place in Yerevan.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Measures to encourage cashless transactions discussed in Armenia

The Armenian government, chaired by Prime Minister Nikol Pashinyan, convened a meeting yesterday to deliberate on initiatives aimed at promoting cashless transactions, the government press service reported.

ArCa payment system reinstated

The Armenian Card (ArCa) payment system has been completely reinstated, according to a report from the company's press service.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

LATEST NEWS

spot_imgspot_imgspot_img