YEREVAN, 10 December. /ARKA/. The Chairman of the Central Bank of Armenia Martin Galstyan declined today forecasts on the exchange rate of the national currency , the dram, against the US dollar for the next year and did not comment on the impact of the recent fluctuations of the Russian ruble.
Earlier, the Eurasian Bank for Reconstruction and Development said it expects the exchange rate of the Armenian dram to the dollar to be AMD 402 in 2025.
‘I probably won’t do anything wrong if I don’t voice the forecasts on the exchange rate of the dram. I believe that the advantages that countries with a freely floating exchange rate can afford are obvious, and the recent events are stemming from it : there have been fluctuations, which is natural. We are very calm about it, but some colleagues have made quite serious changes as a result of the ruble devaluation. For example, the Central Bank of Kazakhstan was forced to raise the key rate by 1% and make certain interventions in the market,’ he said.
According to the National Statistical Committee of Armenia, in November 2024 the average estimated exchange rate of Armenian dram to the US dollar was 389 drams, which is 3.4 per cent lower than the same indicator in November 2023 ($1 – 394.87 drams).-0-
