YEREVAN, September 18. / ARKA /. The US Dollar has declined today by 1.18 points from September 17 against the Armenian dram to 480.56 drams, the Central Bank reported.
According to the regulator’s data, the Armenian dram has been gaining since September 11, when the greenback’s average cost was 485.08 drams. The Central Bank attributed the strengthening of the national currency during the reporting period to the influx of export revenues in USD.
On September 17 evening the U.S. Federal Reserve cited concerns about growth world-wide in its decision to leave interest rates at their record lows at 0-0.25%.
According to analysts, the decision is good news for emerging markets, because it neutralizes the devaluation risks for their currencies.
The Armenian dram had been showing a mixed trend from the beginning of the year, losing and gaining in its value. In particular, the average dollar exchange rate in January was 475.73 drams; in February – 478.39 drams; in March – 477.65 drams; in April – 474.07 drams; in May – 480.25 drams; in June – 475.12; 477.33 drams in July and 479.8 drams in August. -0-
