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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%.
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%.