Zhoghovurd: Dollar exchange rate drops
10:59 • 12.07.12

The sale and purchase rates of the US Dollar dropped overnight from 417 and 420 Drams to 412 and 414 Drams, respectively, the paper has found.
“Every time in such situations the authorities have their stock answer implying that the increase results from a floating rate. But it is no secret for anyone that the economic developments in Armenia have nothing to do with the laws of economics. There is an opinion that the Central Bank is seeking to decrease the Dollar price and prevent a new inflation by investing a new portion of Dollars in the economy. But the most noteworthy fact is that the floating rate policies acceptable for those pursuing a liberal set of values is being implemented by Armenian PM Tigran Sargsyan who has joint the conservative [Republican] party,” the paper says, commenting on the Dollar exchange policies.
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