‘REVALUATION OF DRAM IN THE MARKET IS THE RESULT OF DEMAND AND SUPPLY SITUATION’
By Ara Martirosian
AZG Armenian Daily
30/06/2006
Ardshininvestbank’s Board Chairman Said at the Opening of Bank’s
Offshoot in Etchmiadzin
"Etchmiadzin" branch of Ardshininvestbank opened its doors in a new
building on June 28. As one of the bank’s 51 offshoots, "Etchmiadzin"
with its 18 employees will serve 3-3.5 thousand citizens.
At ribbon-cutting ceremony chairman of Ardshininvestbank’s Board,
Aram Andreasian, stated that contrary to other Armenian banks,
Ardshininvestbank already has branches all over Armenia. He emphasized
that the bank’s policy is to create comfortable conditions for the
clientele and added that 5-6 more branches will be repaired.
Asked about revaluation of Armenian dram, Mr. Andreasian said that
it’s a positive phenomenon in general though exporters suffer
certain loss. Yet, today’s currency is the result of demand and
supply situation in the market. He informed that dollar transfers via
Ardshininvestbank have increased against last year. Besides, big sums
flow into construction sphere and that also affects exchange rates and
increases demand for US dollar. Aram Andreasian thinks that it’s more
important that prices are stable than the changes in exchange rates.