Friday, June 25 2010 17:54

Chairman of Bank Union of Armenia: Armenian dram is traditionally strengthening in summer


Arminfo. In Armenia revaluation of the national dram over the current month is conditioned by starting of the agriculture season in the republic, chairman of Armenian Bank Union Ararat Gukasyan told journalists today.

He also added that Armenian dram is traditionally strengthening in summer. "It is no secret that a policy of floating rate was always conducted in Armenia, and in such conditions revaluation of dram is a result of demand/offer. At present it is conditioned by activation at agriculture production market, which has led to stabilizing of dram", - he said.

To note, from May to 25 June the average rate of dram to dollar reduced by 4%, and in June - by 2,6%. Today the dram/dollar exchange rate is 370 AMD/$1.
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