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REDUCTION IN CENTRAL BANK'S FOREIGN ASSETS COULD NOT HAVE GREATLY IMPACTED DEVALUATION OF ARMENIAN CURRENCY - ECONOMIST
news.am
May 30, 2012 | 12:00
YEREVAN. -Reduction in the Central Bank's foreign assets could not have
greatly impacted the devaluation of the Armenian national currency,
the dram (AMD), Alternative Research Center Director, economist Tatul
Manaseryan stated during a press conference on Wednesday.
He recalled that such phenomena occurred in the past, too. "This could
have an impact, but not a very significant one," Manaseryan added.
At the same time he noted that despite the dram's devaluation, the
dram-based prices have not increased too much.
"Considering the 2013 presidential elections [in Armenia], the
investors will postpone large-scale projects," the analyst maintained.
Also, Manaseryan remarked that the statements made by high-profile
politicians could have a bearing on the currency exchange rates,
but solely for a short term.
According to Tatul Manaseryan, if the capital is not invested inside
the country, the foreign investments will affect the country's
foreign debt.
To note, the average exchange rate of the US dollar rose from AMD
392/$1 to AMD 407/$1 in Armenia, in the past three weeks.
news.am
May 30, 2012 | 12:00
YEREVAN. -Reduction in the Central Bank's foreign assets could not have
greatly impacted the devaluation of the Armenian national currency,
the dram (AMD), Alternative Research Center Director, economist Tatul
Manaseryan stated during a press conference on Wednesday.
He recalled that such phenomena occurred in the past, too. "This could
have an impact, but not a very significant one," Manaseryan added.
At the same time he noted that despite the dram's devaluation, the
dram-based prices have not increased too much.
"Considering the 2013 presidential elections [in Armenia], the
investors will postpone large-scale projects," the analyst maintained.
Also, Manaseryan remarked that the statements made by high-profile
politicians could have a bearing on the currency exchange rates,
but solely for a short term.
According to Tatul Manaseryan, if the capital is not invested inside
the country, the foreign investments will affect the country's
foreign debt.
To note, the average exchange rate of the US dollar rose from AMD
392/$1 to AMD 407/$1 in Armenia, in the past three weeks.