Iranian New Year affects Armenian dram rateMarch 26, 2010 - 18:15 AMT PanARMENIAN.Net - Sharp fluctuations in the national currency of Armenia are mainly conditioned by the influx of dollars into the country, in particular, the influx of tourists from Iran who came to celebrate Novruz (New Year) in Armenia, Andranik Tevanyan, head of Political Economy Research Center told PanARMENIAN.Net According to him, unlike the rest of the world, the dollar rate in Armenia is an internal process controlled by the state. At this point, in his opinion, the dram rate is closer to the fixed rate. Sharp fluctuations are not expected, Andranik Tevanyan said. On March 17 at the foreign exchange market the rate of Armenian dram to U.S. dollar exceeded the "psychological" mark and reached 400.10 dram/dollar, after which the rate of drama gradually devalued. In recent days the situation on the foreign exchange market started to stabilize, and today the rate is 394.62 dram/dollar. According to the representative of RA Ministry of Economy Mekhak Apresyan , the tourism sector recorded significant growth. "Only within March 15-17 thousands of Iranian citizens arrived in Armenia, at least three times more than during the same period of 2009," he said. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Macron honors Charles Aznavour on 100th anniversary French President Emmanuel Macron has paid tribute to the memory of French-Armenian crooner Charles Aznavour. Erdogan’s approval rating falls below 40 percent: survey A total of 53.4 percent of respondents said they disapprove of the performance of Erdoğan. Blinken says U.S. reviewing a number of aid requests from Armenia He said the U.S. is reviewing the requests to determine what more it can do to increase its assistance to Armenia. At least 2 CSTO members participated in preparing 44-day war against Armenia – PM Nikol Pashinyan has declared that at least two CSTO member countries participated in preparations for the 44-day war against Armenia. |