Armenian currency to continue devaluation to over 400 per one USD: Jrbashian
30.01.2012,
16:35
Armenia’s national currency, the dram, will continue depreciating this year and is likely to drop to over 400 drams per one USD, Ameriabank development director Tigran Jrbashian said at a news conference today.
YEREVAN, January 30. /ARKA/. Armenia’s national currency, the dram, will continue depreciating this year and is likely to drop to over 400 drams per one USD, Ameriabank development director Tigran Jrbashian said at a news conference today.
"We have all the prerequisites to hope that it will not happen as a result of a one-day jump", he said at a press conference on Monday.
According to him, further depreciation of dram will help preserve the balance between exports and imports and enhance exports.
"If we want to encourage exports, one of the best mechanisms for it is to secure an appropriate exchange rate – that is to prevent dram’s straightening against major hard currencies.
Over the past two months the dram lost 3.21 points, or 0.8% against USD dropping from 383.42 to 386.63 drams. The highest exchange rate was registered on January 16, when one USD traded at 389 drams. -0-
