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Political Developments Affected Exchange Rate In Armenia - Expert

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  • Political Developments Affected Exchange Rate In Armenia - Expert

    POLITICAL DEVELOPMENTS AFFECTED EXCHANGE RATE IN ARMENIA - EXPERT

    news.am
    May 31, 2012 | 01:54

    YEREVAN. - The rapid weakening of the Armenian national currency
    is due to the great demand for the US dollar, executive director
    of 'Armenbrok' investment company Aram Kayfajyan told Armenian
    News-NEWS.am.

    "The great demand for the dollar is connected with the recent
    political developments. When it became clear that the political
    situation is calm, the rate began to change in accordance with the
    laws of the market, but it came out that there is a large demand
    for the dollar. Then the central bank made several deals to sell the
    currency, which maintained the exchange rate," he said.

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