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ECONOMIST: ARMENIAN DRAM TO REMAIN UNDER THREAT OF DEVALUATION UNTIL MARCH
YEREVAN, December 8. /ARKA/. Armenian dram's downward motion will
be not so dramatic, but the national currency will remain under the
threat of devaluation until March, Vilen Khachatryan, an economist,
told journalists on Monday. The U.S. dollar leapt 4.64 percentage
points today against the Armenian national currency, crossing the
crucial psychological level of 450 drams, and traded at 452.4 drams,
on average, as the press office of the Central Bank of Armenia
reports. The Armenian national currency's fever began on November 24.
Khachatryan said the devaluation was due to outside shocks, and
jobbing at Armenia's forex market ahead of New Year holidays added a
great deal to the devaluation. He said it will be possible to analyze
things only in January 2015. In his opinion, the dram's devaluation
is unlikely to come out of a 20-percent range. The economist said
that sharper fluctuations will be seen after January as a result
of rapprochement between Armenian and Russian economies within the
Eurasian Economic Union. He didn't rule out that western economic
sanctions against Russia may be eased in March. "After March, the
sanctions may be mitigated or lifted, and this will allow the Russian
ruble to recover, and this, in turn, will strengthen purchasing
ability of money transfers coming to Armenia from Russia," he said.
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http://arka.am/en/news/economy/economist_armenian_dram_to_remain_under_threat_of_ devaluation_until_march/#sthash.cejpD8Pl.dpuf
YEREVAN, December 8. /ARKA/. Armenian dram's downward motion will
be not so dramatic, but the national currency will remain under the
threat of devaluation until March, Vilen Khachatryan, an economist,
told journalists on Monday. The U.S. dollar leapt 4.64 percentage
points today against the Armenian national currency, crossing the
crucial psychological level of 450 drams, and traded at 452.4 drams,
on average, as the press office of the Central Bank of Armenia
reports. The Armenian national currency's fever began on November 24.
Khachatryan said the devaluation was due to outside shocks, and
jobbing at Armenia's forex market ahead of New Year holidays added a
great deal to the devaluation. He said it will be possible to analyze
things only in January 2015. In his opinion, the dram's devaluation
is unlikely to come out of a 20-percent range. The economist said
that sharper fluctuations will be seen after January as a result
of rapprochement between Armenian and Russian economies within the
Eurasian Economic Union. He didn't rule out that western economic
sanctions against Russia may be eased in March. "After March, the
sanctions may be mitigated or lifted, and this will allow the Russian
ruble to recover, and this, in turn, will strengthen purchasing
ability of money transfers coming to Armenia from Russia," he said.
---0----
http://arka.am/en/news/economy/economist_armenian_dram_to_remain_under_threat_of_ devaluation_until_march/#sthash.cejpD8Pl.dpuf