One dollar cost 365 Armenian drams at currency exchange shops in Yerevan early today. At some shops it was even 360 Armenian drams. A week earlier $1 could be purchased at 375-377 rate. What happened in two days that the dollar devaluated so greatly?
Moreover, why does dollar devaluate in Armenia whereas in the whole world it does not. This question has become rhetoric one in Armenia. Dollar may be devaluated, strengthened or remain stable conditioned by economic trends and factors. In Armenia… it is predominantly precondition with the “conductors” of exchange.
Expert say that the fluctuated rate is determined by the recent statement of Pavel Safaryan, first deputy of finance and economy minister, who said that the Armenian budget 2007 has set the exchange rate at $1= 357 Armenian drams.
Rumors say dollar may go down to 350 Armenian drams.
It is interesting that euro is also devaluated in Armenia. Today 1 euro cost 460-465 Armenian drams at exchange shops. Officials explain that Armenian dram is strengthened but that sounds funny because no good expressed in Armenian dram goes down in price. /Panorama.am/
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