PaperBoy Posted March 29, 2005 Report Share Posted March 29, 2005 DOLLAR IS STABILIZING ALL OVER THE WORLD, BUT IN ARMENIA, ON THE CONTRARY, IT IS WEAKENING YEREVAN, MARCH 28. ARMINFO. Purchasing in the interbank market 3 mln USD at average rate of 457.75 drams against one U.S. dollar, Armenia's Central Bank, slowed down the fall of the exchange rate. Dealer of one of the largest banks of Armenia expressed such an opinion talking to ARMINFO, informing if till the end of the current month the average rate does not fall below 450 drams per one dollar, then we may expect correction in the market to 460 drams. "Dollar is stabilizing all over the world, but in Armenia, on the contrary, it is weakening. It testifies about the considerable influence of the wait-and-see and speculative attitude of the participants of the market", the dealer thinks. It should be noted that in total from Jan 27 to March 24 the Central Bank bought from the market $20.7 mln. As a result of the last intervention dram was stabilized by 0.3% from March 24 to 25 making up 460.39 against one U.S. dollar. From March 1 to the present day dram was stabilized by 2.5%, making up 459.20 drams against one USD on March 28. Quote Link to comment Share on other sites More sharing options...
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