ArmInfo. Against the backdrop of the collapse of the Russian ruble, the Armenian currency market was in the "turbulence zone" due to a significant degree of correlation between the economies of Armenia and Russia.
In the opinion of the market participants interviewed by ArmInfo, after the introduction of the next US sanctions against Russia, many Russian rubles accumulated in the retail foreign exchange market of Armenia, which are illiquid due to the depreciation, while at the same time there is a dollar deficit. As a consequence, speculative demand for US currency has increased significantly. As a result, experts believe, the dram to ruble began to strengthen, while weakening noticeably against the dollar and the euro. But experts believe that as long as the devaluation of the dram to the dollar is within the limits, which do not cause much concern, since there is no sharp drop in the national currency rate. This speculative trend, as experts suggest, will last a maximum of a week, after which the situation will stabilize, and then the "rollback" of the exchange rate to its previous positions is not ruled out.
The current situation with the ruble - the result of the strengthening of US sanctions pressure on Russia - is perceived by the currency market of Armenia quite adequately, as the country is closely connected with Russia with a transfer component.
RUB | 4.27 | 0.00 |
USD | 394.71 | -0.97 |
EUR | 427.55 | -1.96 |
GBP | 498.56 | -2.21 |
CAD | 290.38 | -1.33 |
JPY | 26.11 | -0.04 |
CNY | 54.62 | -0.20 |
CHF | 435.85 | -3.60 |