{"id":37614,"date":"2012-06-06T12:27:20","date_gmt":"2012-06-06T12:27:20","guid":{"rendered":"https:\/\/armbanks.am\/2012\/06\/06\/235663\/"},"modified":"2024-12-15T12:57:41","modified_gmt":"2024-12-15T12:57:41","slug":"expert-current-devaluation-of-armenian-dram-triggered-by-recent-parliamentary-elections","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2012\/06\/06\/37614\/","title":{"rendered":"Expert: Current devaluation of armenian dram triggered by recent parliamentary elections"},"content":{"rendered":"<p><strong>YEREVAN, June 6. \/ARKA\/. <\/strong>The current devaluation of the Armenian dram has mainly been triggered by the recent parliamentary elections, Bagrat Asatryan, a former central bank chairman, said Wednesday at a news conference.<\/p>\n<p>\u201cOutside factors certainly impact us, but the elections have stricken us harder,\u201d he said. \u201cCash in circulation grew precipitously in May 2012, just as in 2007. As a rule, cash in hand grows 1-2% in April and May, but in years of elections it grows 5-6%.  In early May 2012, however, cash grew 10% in a few days.\u201d<\/p>\n<p>Asatryan is convinced that election bribery added a great deal to this growth.<br \/>\nAt the same time, he said that national currencies were devaluating also in other countries, particularly in Russia, where the ruble plunged about 10% against the dollar in the recent three weeks.<\/p>\n<p>\u201cWe are connected with Russia\u2019s economy, but the devaluation of the ruble was prompted by a mere factor \u2013 a 25-percent fall in oil prices.\u201d<\/p>\n<p>Economist Tatul Manaseryan, head of Alternative analysis center, shared the opinion that cash in circulation has a strong impact on the economy, but also said that other economic factors should be taken into account as well.<\/p>\n<p>He pointed out fluctuations in dollar and the euro exchange rates as major cause of devaluation of the Armenian national currency.<\/p>\n<p>\u201cIf we compare it with other currencies, we\u2019ll see no dramatic fluctuations in the dram\/euro exchange rate,\u201d Manaseryan said adding that former soviet nations\u2019 currencies are devaluating as well.<\/p>\n<p>The Armenian dram plunged 16.21 points from 392.13 drams to 408.34 drams per one U.S. dollar.<br \/>\nOn June 5, the dollar traded at 408.34 drams \u2013 the record high since the elections. ($1 \u2013 AMD 408.34 ).-0&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The current devaluation of the Armenian dram has mainly been triggered by the recent parliamentary elections, Bagrat Asatryan, a former central bank chairman, said Wednesday at a news conference<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12159,9216],"tags":[15837,12345,12225,535],"class_list":{"0":"post-37614","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-exchange-market","7":"category-news","8":"tag-armenia-2","9":"tag-dram","10":"tag-inflation","11":"tag-535"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/37614","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=37614"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/37614\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=37614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=37614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=37614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}