{"id":81974,"date":"2014-12-01T15:02:43","date_gmt":"2014-12-01T15:02:43","guid":{"rendered":"https:\/\/armbanks.am\/2014\/12\/01\/241877\/"},"modified":"2024-12-15T13:14:46","modified_gmt":"2024-12-15T13:14:46","slug":"adjustment-of-drams-exchange-rate-cost-central-bank-33-million-last-week","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2014\/12\/01\/81974\/","title":{"rendered":"\u201cAdjustment\u201d of dram\u2019s exchange rate cost central bank $33 million last week"},"content":{"rendered":"<p><strong>YEREVAN, December 1. \/ ARKA \/.<\/strong> Armenia\u2019s Central Bank sold $33 million last week at the local stock exchange (72 percent of all transactions made there from November 24 to November 30) in order \u2018to adjust the national currency, dram\u2019s exchange rate.\u201d<\/p>\n<p>Armenian dram\u2019s depreciation that began in early October accelerated in late November with the dram\u2019s average exchange rate tumbling from 419 to 435 per dollar within hours. However, by the end of the week \u2013 on November 30- the US dollar fell to 433.69 drams, in all likelihood, resulting from the regulator\u2019s injections in the local currency market.<\/p>\n<p>The Central Bank explained the \u2018adjustment\u2019 of the dram by \u201crecent developments in the regional and international financial markets,\u201d saying also that its reserves are sufficient for preventing all kinds of artificial exchange rate fluctuations and ensuring financial stability.<\/p>\n<p>According to the Central Bank, a stronger dollar will also increase the dram equivalents of the remittances sent home by thousands of Armenian labor migrants from Russia and other countries.<\/p>\n<p>It is noteworthy that in November alone the regulator injected over $93 million in the local currency market, 98.3% of all currency exchange transactions of the month. Overall, in November alone the dram has lost 5 percent of its value against the U.S. dollar.<\/p>\n<p>According to the Central Bank, it has sold about $ 237 million since the beginning of the year in the local currency market. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenia\u2019s Central Bank sold $33 million last week at the local stock exchange (72 percent of all transactions made there from November 24 to November 30) in order \u2018to adjust the national currency, dram\u2019s exchange rate.\u201d<\/p>\n","protected":false},"author":1,"featured_media":157177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12159,9216],"tags":[13792,15865,12346],"class_list":{"0":"post-81974","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-exchange-market","8":"category-news","9":"tag-adjustment","10":"tag-central-bank-2","11":"tag-exchange"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/81974","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=81974"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/81974\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157177"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=81974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=81974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=81974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}