ARMENIAN DRAM IS STABLE, SAYS UNION OF BANKS CHAIR

Tert.am
12:31 ~U 02.04.10

"An incomprehensible alarm took over the currrency market two weeks
ago. It quickly worked itself out. Today we’re registering that,
from the beginning of the year, the Armenian dram is in a pretty
stable condition," said RA Union of Banks Chair Ararat Ghukasyan,
referring to the fluctuations in dram-dollar rates.

According to Ghukasyan, it’s difficult to make forecasts in this
matter and it’s not realistic to define a precise value.

"In reality, that’s the result of proposal and demand. The passage
has been developed: it’s a limit of 380-400," said the Union of Banks
chair, adding that if the inflation of the dram takes place smoothly,
it’s normal and typical of Armenia’s economy.

Ghukasyan also predicted that this year there won’t be any fluctuations
in the economy.