DOLLAR WILL CONTINUE GAINING VALUE IN ARMENIA - EXPERT
- YEREVAN. - The US dollar's exchange rate against the Armenian dram (AMD) will continue to rise and reach AMD 430/$1, Republic Union of Employers Chairman Gagik Makaryan said, during a press conference on Friday, and predicted that next year the dollar's exchange rate will reach AMD 480-500/$1.
In his turn, opposition Armenian National Congress member, economist Vahagn Khachatryan stated that Armenia needs dollars to pay off debts, and, also, the Central Bank's reserves have reduced by approximately US$ 250 million.
As per Gagik Makaryan, there are positive and negative sides to the change in the dram-dollar ratio. Specifically, the dram's devaluation reflects positively on exporters and remittance receivers, but the negative side is that the prices of imported goods increase.
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- 1769 The independence program for Armenia, as developed by Movses Sarafian, is shown to the Russian Ministry of Foreign Affairs.
- 1860 The Governor of Marash, Khurshid Pasha lauches an attack against Zeitoon. He is routed.
- 1908 Death of Gevorg Dodokhyan (poet). He was born in 1830 in Gogenlo (Crimea, the Ukraine).
- 1939 The opening of the Armenian Pedagogical School Department in Tbilisi.
- 1954 Death of Arshak Chobanian, writer and literary critic. He was born in 1872.