DOLLAR WANTED STILL MORE
Support A1+!«The exchange rate of USD and ARMD is conditioned by the supply and demand. When the demand rises, dollar becomes more expensive», this is the explanation of Tigran Sargsyan about the raise of the exchange rate of the US dollar for the last few days. According to him, the factors affecting the dram-dollar exchange rate are numerous and it is impossible to say which one of them is more important.
The President of the Central Bank offers to follow the economics growth in different fields and thus to determine the demand of currency in these fields. Besides, “it is also important to determine the sum entering the country – directly, indirectly or by means of private transfers”. Tigran Sargsyan says it is impossible to evaluate as there is a huge stream of cash ARMD into Armenia.
“The best way to avoid risks is to keep the money in ARMD and to follow the costs”, says the CB President adding that the Armenian authorities are responsible only for it, and “the effect of currency market is beyond our control”.
Let us also remind you that according to some economists, the high exchange rate of the ARMD last year harmed mostly the local businessman.
