{"id":81765,"date":"2014-11-25T13:55:33","date_gmt":"2014-11-25T13:55:33","guid":{"rendered":"https:\/\/armbanks.am\/2014\/11\/25\/241839\/"},"modified":"2025-01-09T10:35:43","modified_gmt":"2025-01-09T10:35:43","slug":"dollar-reaches-its-eight-year-record-high-against-armenian-national-curency-and-trades-at-435-drams","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2014\/11\/25\/81765\/","title":{"rendered":"Dollar reaches its eight-year record high against armenian national curency and trades at 435 drams"},"content":{"rendered":"

YEREVAN, November 24.\/ARKA\/.<\/strong> The Armenian dram plunged yesterday to its record low in the last eight years \u2013 the national currency fell 16.6 percentage points against the U.S. dollar, which was traded at 435 drams, on average.<\/p>\n

According to Armenia\u2019s stock exchange, the dram sank 4 percentage points on Monday.<\/p>\n

The Central Bank of Armenia said in its statement that the national currency\u2019s value fully reflects the current developments at regional and international financial markets and is on the way to stabilization.<\/p>\n

The correction of the dram\u2019s exchange rates is prompted by these developments and is favorable for enhancement of export competitiveness and economic growth as well as creation and maintenance of stable jobs and purchasing power of the money transfers received by the population.<\/p>\n

International experts say the revaluation of the U.S. dollar at international markets is mainly due to the U.S. Federal Reserve\u2019s decision to wrap up the QE (quantitative easing) program.<\/p>\n

Some Armenian experts think such a precipitous surge of the dollar was prompted by outside factors.
\n\u201cIt should be taken into consideration that this is the third consecutive year the U.S. economy shows growth, which impacts the euro-dollar exchange rate, which on its side impacts exchange rates of other currencies, including the Armenian dram,\u201d Tatul Manaseryan, head of Alternative Research Center told ARKA News Agency.<\/p>\n

He is convinced that the Russian ruble\u2019s devaluation has little impact on the dram\u2019s value, and its influence on the Armenian national currency should not be exaggerated.<\/p>\n

The U.S. dollar leapt more than 20% against the Russian currency on Monday and traded at 45 rubles.<\/p>\n

In his opinion, the dollar\u2019s value is unlikely to reach 500 drams \u2013 it may trade at 450 to 460 drams.
\nAccording to Manaseryan\u2019s forecast, the Armenian national currency may go up or down, depending on how much not only Armenia\u2019s but also Russia\u2019s government reserves will allow usage of resources for interventions.<\/p>\n

Bagrat Asatryan, former head of the central bank, on his side, said the Armenian dram\u2019s devaluation was caused by slowdown in economic growth and some outside factors, first of all by the dwindling financial inflows, particularly investments and money transfers.<\/p>\n

The Central Bank of Armenia says its reserves are absolutely sufficient for preventing any artificial fluctuations in foreign exchange rates and ensuring financial stability.<\/p>\n

The regulator sold $60.75 million at the country’s forex market for the last three weeks. It has sold $203.38 million and bought $50.15 million since the beginning of this year. –0–<\/p>\n","protected":false},"excerpt":{"rendered":"

The Armenian dram plunged yesterday to its record low in the last eight years \u2013 the national currency fell 16.6 percentage points against the U.S. dollar, which was traded at 435 drams, on average<\/p>\n","protected":false},"author":1,"featured_media":157557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12159,12168,9216],"tags":[15837,15750,13787],"class_list":{"0":"post-81765","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-exchange-market","8":"category-interviews","9":"category-news","10":"tag-armenia-2","11":"tag-dollar-2","12":"tag-national-curency"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/81765","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=81765"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/81765\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157557"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=81765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=81765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=81765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}