YEREVAN, April 30. /ARKA/. As a result of a certain prevalence of supply over demand in Armenia the exchange rate of the US Dollar has slightly decreased during the last month, Chairman of the Central Bank of Armenia Martin Galstyan said.
“Currently, the nominal exchange rate of the Armenian dram to the dollar is about AMD 390, i.e. the dollar has devalued by about 2.5%,” he said at a press conference on Tuesday.
This, according to the central bank governor, is influenced by trade and tourism flows, as well as capital flows.
“We see a weaker demand in the market in relation to supply: there are people willing to buy dollars, but those economic entities that sell them have large volumes,” he explained.
Galstyan also noted that the Central Bank monitors these developments and intervenes if it sees a violation of the market functionality.
At the same time, he noted that this is a risk factor for economic entities, which they should take into account when doing business.
