Friday, July 20 2012 20:53

Tigran Jrbashyan: There will be no sharp fluctuations on foreign exchange market


ArmInfo. This year's AMD depreciation has improved Armenia's foreign balance and has stimulated the country's export activities, Development Manager of Ameriabank CJSC Tigran Jrbashyan told journalists on Friday.

He said that there will be no sharp fluctuations on the foreign exchange market. "When inflation is under control, AMD's depreciation is not dangerous," he said.

Financial Manager of Ameriabank Gevorg Tarumyan said that AMD's depreciation has not affected the behavior of the bank's customers and has not changed the ratio between AMD and foreign exchange savings.

In May-June 2012 AMD depreciated against USD by 6.5% to 418.66 AMD/1 USD. But on July 20 the exchange rate was already 411.89 AMD/1 USD.
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