YEREVAN, November 1. /ARKA/. The AMD was temporarily impacted by the September 19 attack on Nagorno-Karabakh, the subsequent refugee crisis, and general uncertainty, ), according to the World Bank’s ‘Armenia Monthly Economic Update – October 2023.’
It says the AMD/USD exchange rate had depreciated 11 percent by October 4 before starting to appreciate again supported by central bank intervention.
In mid-October, the exchange rate stood at around AMD 400/USD, just 0.6 percent stronger (yoy).
In September, international reserves decreased by USD 252 million, to about USD 4 billion, equivalent to 3.3 months of import cover. -0-
