Dram is Stabilized

YEREVAN (Respublica Armenia)–The monetary "storm," which began in June and increased the rate of the US dollar to 520-530 drams–has finally stabilized. On Monday–the dollar rate decreased to about 505 drams.

Armenia’s Central Bank has carried out a policy of reducing the surplus of money–which increased because of a major loan provided to the Armenian government.

It is expected that Armenia’s dram will become stronger in the coming months.

Armenia is scheduled to receive $25 million on Monday from the ESAF loan to be used as the currency reserves of the Central Bank–improving the payment balance of the republic.


Discussion Policy

Comments are welcomed and encouraged. Though you are fully responsible for the content you post, comments that include profanity, personal attacks or other inappropriate material will not be permitted. Asbarez reserves the right to block users who violate any of our posting standards and policies.