YEREVAN, March 22. / ARKA /. The average market value of US dollar has fallen today by 3.02 points over the Armenian national currency from March 20 to 480.84 drams, the Central Bank said.
According to the Central Bank, the US dollar has been losing its value against the dram for the eighth days in a row. During this period the Armenian dram has appreciated by 2% against the greenback.
The appreciation s due to a number of reasons, such as a 23.6% rise in exports in January-February and a slight increase of 3.4% in remittances from abroad.
For example, the average market value of USD in January was 486.04 drams. In February it began to rise, reaching 493.64 drams. In March the dram began to strengthen. On March 14 the US dollar fell below 490 drams.
Another factor strengthening the dram is market expectations related to “currency intervention” by Iranian tourists who visit Armenia to celebrate their New Year -Novruz. According to forecasts, some 10,000 Iranians are expected to visit Armenia in the last ten days of March.-0-
