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Former Central Bank governor predicts further dram appreciation, says current growth ‘unreliable’

The appreciation of Armenia’s national currency, the dram, observed in the past two weeks (seeing the dollar exchange rate dropping from 400 per dram down to 375-378) is likely to continue as the economy has seen a 64 percent rise in exports in January-April this year and tendencies for a growing amount of remittances from abroad. But the former Central Bank chairman Bagrat Asatryan still thinks the biggest factor of this continued appreciation is “the desire of some persons.”

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1
20.10.2011 04:26
Guys, get your facts straight. the Dram has not gone from 400 to 375 in the last two weeks. the DRAM has not been at 400 in 18 months!! http://www.forexticket.co.uk/en/histo/USD-AMD
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