Collapse of the US currency market could negatively impact Armenia – Central Bank

Exchange market
доллар валюта

YEREVAN, June 5. /ARKA/. A collapse of the US currency market could negatively impact the Armenian market, stated Martin Galstyan, Governor of the Central Bank of Armenia.

“Our neutral interest rate is a derivative of the US neutral interest rate. If there were a sudden collapse, the neutral rate would rise, meaning the interest rate on the Armenian dram would also rise,” he said on the Rearrange podcast.

Noting that the world is strongly linked to the US market, Galstyan said the dollar currently remains the dominant currency.

“The dollar will not disappear. Perhaps over time, the dollar will lose some of its position, but I don’t think there is any market right now that can compete with the dollar in terms of depth, liquidity, and the range of instruments it offers,” he emphasized.

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