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Tatul Manaserian: In Order To Avoid Consequences Of Currency Exchang

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  • Tatul Manaserian: In Order To Avoid Consequences Of Currency Exchang

    TATUL MANASERIAN: IN ORDER TO AVOID CONSEQUENCES OF CURRENCY EXCHANGE RATE FLUCTUATION, ARMENIA SHOULD INTEGRATE INTO GLOBAL ECONOMY WITH NATIONAL DRAM

    Noyan Tapan
    Jan 30, 2008

    YEREVAN, JANUARY 30, NOYAN TAPAN. According to Dr. Tatul Manaserian,
    the degree and dependence of integration into the world economy is
    conditioned by how well-established the given country's financial
    market is. For example, as he stated at the January 30 discussion,
    Ukraine is integrated into the global economy and in recent days was
    considerably subjected to the impact of the U.S. mortgage crisis. The
    Armenian Stock Exchange can respond to this crisis as much as it is
    well-established. However, in reality the stock exchange, which is
    the "heart" of each country's economy, does not almost function in
    Armenia. The economist explained the negative impact of fluctuations
    of exchange rates on the country's economy by the "nonexistence"
    of the Armenian financial market as well.

    In order to prevent dram-dollar exchange rate fluctuations, in the
    words of T. Manaserian, "we should look ahead" and follow suit of
    those countries that integrate into the global economy with their
    national currency rather than with dollar or euro. The economist
    said that this is a complex process but it is the only way to avoid
    consequences of the dollar's depreciation.
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