ARMENIAN DRAM DEPRECIATION IS CONDITIONED BY A FALL IN PRICES OF AGRICULTURAL PRODUCTS, CBA CHAIRMAN SAYS
YEREVAN, AUGUST 22, NOYAN TAPAN. The depreciation of the Armenian dram over the last two months has been mainly conditioned by a fall in the prices of agricultural products. This is how Chairman of the Central Bank of Armenia (CBA) Tigran Sargsin explained the Armenian dram depreciation at the August 22 presentation of BTA Invest Bank.
According to him, the effects on the currency exchange rate are numerous and multifarious, ranging from the ratio of demand to supply on the domestic market to processes taking place on iternational markets. The speaker indicated that the reduction of the excessive dollar liquidity in the global economy has gradually led to a growth in dollar savings. At the same time, the dollar's profitablity against the euro has sharply risen in the market. According to T. Sargsian, the profitabilty of the euro has remained the same, whereas that of the dollar has increased from 1% to 3.5%.
YEREVAN, AUGUST 22, NOYAN TAPAN. The depreciation of the Armenian dram over the last two months has been mainly conditioned by a fall in the prices of agricultural products. This is how Chairman of the Central Bank of Armenia (CBA) Tigran Sargsin explained the Armenian dram depreciation at the August 22 presentation of BTA Invest Bank.
According to him, the effects on the currency exchange rate are numerous and multifarious, ranging from the ratio of demand to supply on the domestic market to processes taking place on iternational markets. The speaker indicated that the reduction of the excessive dollar liquidity in the global economy has gradually led to a growth in dollar savings. At the same time, the dollar's profitablity against the euro has sharply risen in the market. According to T. Sargsian, the profitabilty of the euro has remained the same, whereas that of the dollar has increased from 1% to 3.5%.
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