Zhamanak: Dram depreciation rate slows

The rate of the Armenian dram’s depreciation has slowed and after the New Year holidays the dram-dollar exchange rate fluctuations have stabilized. The difference between the sale and purchase price of the dollar is 2 drams now, Chairman of the Union of Manufacturers of Armenia Raffi Mkhchyan told ‘Haykakan Zhamanak’ daily. 

According to him, the situation is conditioned by the fact that trade declines in January due to low demand.

“This situation is conditioned by foreign markets. There is no external agiotage, but there is no improvement tendency in the depreciation process either. There are several factors here. First, the Central Bank of Armenia put 50 million into circulation on Monday and withdrew 10 million later. Another factor is that relative confidence has formed,” Mkhchyan said.