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STRONG DRAM: SIGN OF STRONG ECONOMY?
By Ara Martirosian
AZG Armenian Daily #081, 05/05/2005
Finances
According to a notification by the Central Bank of Armenia, national
currencies of 22 CIS and East European countries, including Armenia,
have surged up. Dollars faltering against euro and inflow of funds into
these countries stands for the reason of strengthening. The Central
Bank informs that strengthening of national currencies in Eastern
Europe began in 2002 whereas in CIS countries it started in 2004.
The Central Bank informs that stabilization of national currencies
in states living through transitional period speaks well for the
well-known thesis that high pace of development in such countries
results inevitably in strengthening of national currency. If there
is no rise in prices then the nominal value will also surge.
By Ara Martirosian
AZG Armenian Daily #081, 05/05/2005
Finances
According to a notification by the Central Bank of Armenia, national
currencies of 22 CIS and East European countries, including Armenia,
have surged up. Dollars faltering against euro and inflow of funds into
these countries stands for the reason of strengthening. The Central
Bank informs that strengthening of national currencies in Eastern
Europe began in 2002 whereas in CIS countries it started in 2004.
The Central Bank informs that stabilization of national currencies
in states living through transitional period speaks well for the
well-known thesis that high pace of development in such countries
results inevitably in strengthening of national currency. If there
is no rise in prices then the nominal value will also surge.