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ARMENIANS TREAT USD AS RESERVE CURRENCY, FOREX CLUB EXPERT SAYS
PanARMENIAN.Net
June 28, 2012 - 15:45 AMT
PanARMENIAN.Net - Following 2009's AMD devaluation, when the dram
depreciated in a matter of a day, what we see at present is a gradual
weakening of AMD exchange rate to U.S. dollar, an analyst at Forex
Club Group of Companies said.
"Such a gradual transformation will help avoid serious shocks at
the market," Mikhael Verdyan told a news conference in Yerevan. The
expert further cited the influence of global tendencies on Armenian
economy behind the dram devaluation.
According to the expert, Armenia's dollarization level has been growing
since 2009, to make up 42,67% in April 2012; moreover, 47.67% of all
investments in Armenia are made in foreign currency. "With memory
of 2009 fresh in their minds, Armenian population prefers to save in
dollars, treating USD as a reserve currency," Verdyan explained.
PanARMENIAN.Net
June 28, 2012 - 15:45 AMT
PanARMENIAN.Net - Following 2009's AMD devaluation, when the dram
depreciated in a matter of a day, what we see at present is a gradual
weakening of AMD exchange rate to U.S. dollar, an analyst at Forex
Club Group of Companies said.
"Such a gradual transformation will help avoid serious shocks at
the market," Mikhael Verdyan told a news conference in Yerevan. The
expert further cited the influence of global tendencies on Armenian
economy behind the dram devaluation.
According to the expert, Armenia's dollarization level has been growing
since 2009, to make up 42,67% in April 2012; moreover, 47.67% of all
investments in Armenia are made in foreign currency. "With memory
of 2009 fresh in their minds, Armenian population prefers to save in
dollars, treating USD as a reserve currency," Verdyan explained.