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2008 | 15.02.08 | 16:00

Currency Question: Is dram value, inflation based on economics or self-interests?

By Gayane Abrahamyan
ArmeniaNow reporter
When pensioner Grisha Ohanjanyan, 75, learned last summer that he’d get a significant increase in his pension this year – from $39 (12,000 drams) to $71 (22,000 drams) – this should have been happy news for he and his wife. That along with cash sent by their daughter living in the U.S. should have been enough for them to live on.

“We recalled how we used to live with $8 some 4 years ago. That would not suffice for a dog,” says the retired engineer.

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