YEREVAN, January 26. /ARKA/ Armenia’s national currency, the dram, continued to depreciate gradually against the USD, the World Bank says in its ‘Armenia Monthly Economic Update – January 2024..
As of January 9, 2024, the AMD/USD exchange rate stood at AMD 405.6, or 0.6 percent weaker compared to December 2023, and 2.7 percent weaker year-on-year .
At year-end 2023, international reserves stood at USD 3.6 billion, equal to 3 months of import cover and USD 510 million lower compared to year-end 2022 reserves (Figure 5). This is partly due to the early buy-back of USD 188 million out of a USD 500 million Eurobond due March 2025, as well as to some delays in project-linked loans. -0-
