Tuesday, May 29, 2012

Dollar-Dram Watch: Analyst says rate is result of oil and holiday plans

The dynamic rise in the dollar exchange rate in Armenia during the recent days, according to some economists, is connected with the past parliamentary elections, however, economist Hayk Mnatsakanyan believes that "it is simply a seasonal phenomenon, and is connected with the fall in oil price on the international market."

According to the data of the Central Bank of Armenia, within the recent two weeks the dollar exchange rate has risen from 395 to 406 drams (per one dollar); and on Friday in some currency exchange offices – even 410 drams.

Armenian News

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