Economy expert refutes dram devaluation fears

PanARMENIAN.Net - Slow devaluation of dram has been reported at Armenia’s currency market, dram to dollar exchange rate dropping from AMD 409 to 1$ in early March to AMD 414.28 to $1 in mid-March.

Doctor of Economics Tatul Manaseryan believes that the change should not be feared. “Last year, before and after parliamentary elections in May, economy drop was widely forecasted, prompted by exchange rate fluctuations. The predictions, however didn’t justify themselves, with AMD exchange rate having stabilized in July 2012,” the expert told a PanARMENIAN.Net reporter.

“A strengthening of dram is to be expected as economy grows,” he stressed.