YEREVAN, Aug. 2. /ARKA/. The strengthening of the Armenian dram against US dollar and euro is affecting the most important sectors of our economy – investors, exporters, importers, the IT sector and developers. Armenian Economy Minister Vahan Kerobyan said in an interview with Armenpress.
“We understand that there is a red line below which the strengthening of the dram will cause a painful blow to our economy. And we think that this red line is 450 drams per one USD. We also see the concern of the Finance Ministry and are trying to find solutions which will soften the blow to our vulnerable sectors,” said the Minister.
According to Kerobyan, the first decisions in this direction have already been taken, and there will be others next week.
With these decisions and tools, the government will try to ensure that companies have access to the “necessary oxygen” so they can develop effectively in this new environment.
The average market exchange rate of U.S. dollar against the Armenian dram on August 1, 2022 was 407.53 drams, down 0.18 drams from July 29. -0-
