ARMENIAN DRAM’S RISE IS RESULT OF STRENGTHENED ECONOMY

YEREVAN, APRIL 6, NOYAN TAPAN. At the April 5 press conference, the
European Bank of Reconstruction and Development (EBRD) representatives
expressed an opinion that the growth of the Armenian dram’s exchange
rate against the US dollar and the euro is the result of the
strengthened economy. According to the bank’s regional director Mike
Davey, the exchange rates of currencies in Armenia are also influenced
by substantial amounts of remittances coming into the country from
abroad. In his view, the RA Central Bank’s policy should be cautious
in this regard, which, however, is not the case.