A1plus
| 17:23:00 | 08-06-2005 | Economy |
DOLLAR WANTED STILL MORE
«The exchange rate of USD and ARMD is conditioned by the supply and demand.
When the demand rises, dollar becomes more expensive», this is the
explanation of Tigran Sargsyan about the raise of the exchange rate of the
US dollar for the last few days. According to him, the factors affecting the
dram-dollar exchange rate are numerous and it is impossible to say which one
of them is more important.
The President of the Central Bank offers to follow the economics growth in
different fields and thus to determine the demand of currency in these
fields. Besides, `it is also important to determine the sum entering the
country – directly, indirectly or by means of private transfers’. Tigran
Sargsyan says it is impossible to evaluate as there is a huge stream of cash
ARMD into Armenia.
`The best way to avoid risks is to keep the money in ARMD and to follow the
costs’, says the CB President adding that the Armenian authorities are
responsible only for it, and `the effect of currency market is beyond our
control’.
Let us also remind you that according to some economists, the high exchange
rate of the ARMD last year harmed mostly the local businessman.
From: Emil Lazarian | Ararat NewsPress