{"id":251056,"date":"2023-08-28T08:06:31","date_gmt":"2023-08-28T08:06:31","guid":{"rendered":"https:\/\/armbanks.am\/2023\/08\/28\/251056\/"},"modified":"2023-08-28T08:06:31","modified_gmt":"2023-08-28T08:06:31","slug":"sp-global-ratings-expects-the-dram-to-begin-to-depreciate-as-the-current-account-deficit-widens-and-transfers-slow","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2023\/08\/28\/251056\/","title":{"rendered":"S&#038;P Global Ratings expects the dram to begin to depreciate as the current account deficit widens and transfers slow."},"content":{"rendered":"\n<p><strong>YEREVAN, August 28. \/ARKA\/. <\/strong>We expect the dram to begin to depreciate as the current account deficit widens and transfers slow, S&amp;P Global Ratings said<\/p>\n\n\n\n<p>That said, it expects the exchange rate to act as a key shock absorber and the FX reserve buffer to remain broadly stable.<\/p>\n\n\n\n<p>It says also that Armenia&#8217;s official reserves reached $4.1 billion in June, up 16% compared with the same period last year. Reserves have generally increased on the back of the Central Bank of Armenia&#8217;s (CBA)&#8217;s net purchases of foreign currency (FX) last year to absorb excessive FX inflows, stemming from higher tourist arrivals and significant capital and remittances transfers.<\/p>\n\n\n\n<p>\u2018We expect the dram to begin to depreciate as the current account deficit widens and transfers slow. That said, we expect the exchange rate to act as a key shock absorber and the FX reserve buffer to remain broadly stable.\u2019<\/p>\n\n\n\n<p>According to the Eurasian Development Bank, in terms of real effective exchange rate, the Armenian dram appreciated by 33.6% in 2022. At the end of June 2023. the dram&#8217;s appreciation was 40% compared to the beginning of 2022.<\/p>\n\n\n\n<p>By the end of July 2023 compared to the beginning of 2022, the Armenian dram has strengthened against the US dollar by 19.8% yoy, against the euro by 21.7% yoy, and against the Russian ruble by 32.4% yoy,&#8221; according to EDB. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We expect the dram to begin to depreciate as the current account deficit widens and transfers slow, S&#038;P Global Ratings said<\/p>\n","protected":false},"author":1,"featured_media":157755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12159,9216],"tags":[],"class_list":{"0":"post-251056","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-exchange-market","8":"category-news"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/251056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=251056"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/251056\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157755"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=251056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=251056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=251056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}