Dollar Still Loses Value In Armenia At Rapid Pace

DOLLAR STILL LOSES VALUE IN ARMENIA AT RAPID PACE

news.am
July 11, 2012 | 16:13

YEREVAN. – The US dollar’s exchange rate continues to lose ground in
Armenia’s financial market, and it is weakening as quickly as it was
gaining strength in the country.

The primary reason for the American currency’s weakening is the
growing demand for the Armenian Dram (AMD) during the agricultural
season and the increasing number of tourists.

So, the US currency’s average exchange rate against the Armenian
Dram comprised AMD 413.35/$1, at NASDAQ OMX Armenia stock exchange on
Wednesday, and this is a 0.41-percent-or a 1.71-point-fall from the
previous trading session on Tuesday. Furthermore, the day’s trading
closed at AMD 413/$1.

And the total sales were $4.5 million.

The dollar’s buying exchange rate dropped all the way to AMD 412/$,
in Armenia’s cash foreign currency market, and it is sold at AMD 414/$.

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