Following 2009’s AMD devaluation, when the dram depreciated in a matter of a day, what we see at present is a gradual weakening of AMD exchange rate to U.S. dollar, an analyst at Forex Club Group of Companies said.

“Such a gradual transformation will help avoid serious shocks at the market,” Mikhael Verdyan told a news conference in Yerevan. The expert further cited the influence of global tendencies on Armenian economy behind the dram devaluation.

According to the expert, Armenia’s dollarization level has been growing since 2009, to make up 42,67% in April 2012; moreover, 47.67% of all investments in Armenia are made in foreign currency. “With memory of 2009 fresh in their minds, Armenian population prefers to save in dollars, treating USD as a reserve currency,” Verdyan explained.