Ruble rate Drops by More Than 30 Percent in Armenia

YEREVAN (Noyan Tapan)–The exchange rate of the Russian ruble against Armenian dram dropped by 30 percent at the Yerevan exchange offices on Tuesday. The sale price of the Russian ruble totaled 69-70 drams against 79-80 drams a day before–while the purchase price dropped down to 55–50 and even 45 drams. In other words the cost of 1 USD in Armenia exceeded 10 Russian rubles. Meanwhile–the Russian government set a new "currency corridor" for ruble with the ceiling rate of 9 rubles per 1 USD.

According to Russian mass media reports–on Tuesday the dollar price was close to 9 rubles on the whole territory of Russia. The Central Bank’s exchange rate for the Russian ruble totaled 78.01 AMD–instead of 79.01 AMD a day before.

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