Advertisment
Advertisment
By preliminary data, gas price for Armenia will rise by 18%
XIth International film festival "One shot - one minute" to be held in Yerevan 2-9 June
Amnesty International negatively evaluates situation with human rights in Armenia
Endangered species found in areas adjacent to Amulsar
Minister: Rumors about Armavia's 40 mln USD "air tax" debt have nothing to do with reality
Pre-parliament: Authorities doom the people to poverty and suffering
U.S. Ambassador: U.S. Geological Survey has completed study of Armenia's shale gas resources
US ambassador: Iran is truly under sanctions of the USA and the world community
Ameriabank expected to raise retail loan portfolio 15% for first half of 2013
Energy Minister of Armenia: For Armenia importing gas from Russia is favorable rather than from Iran
U.S. Ambassador: U.S. comes out for transparent deal on gas price between Armenia and Russia
Upcoming rise in gas price in Armenia may lead to 30% rise in electric power tariff in average
EU has never made Armenia choose between European Union and Eurasian Union, Traian Hristea says
Ameriabank offers a new SME credit package
Ameriabank offers its customers a chance to "build" a deposit that suits them best
Ameriabank announces differentiation of services tariffs
Did European audience's votes for Dorians disappear?
Region Research Center: There still are lots of questions to Azerbaijan's last information campaign
Andrey Ponomarev appointed Director for Fixed-line Telephony Network at ArmenTel CJSC
Gas price for population of Armenia may rise by some 20%, by preliminary data
ARFD: Government must be responsible for its mistakes and ready to resign if its reforms go wrong
Parliamentary group of Armenian National Congress to vote against Government's program
Oppositionist: The toasts of Armenian government are becoming more and more sweeter
ARFD: Armenian Government's program is a declaration containing nothing specific
Armenia's former premier: Actually, state budget revenues do not grow in Armenia
Economist: The gas supplied to Armenia is not the cheapest in the region
RGD-5 hand-grenade found in a bus in Armenia
Directors Across Borders project to be presented at Golden Apricot Film Festival in Yerevan
Armenian and Turkish filmmakers to meet in Yerevan
Transparency International: Ethics Commission "covers" the head of the State Revenues Committee
Prosperous Armenia Party threatens to make public a talk of Gagik Tsarukyan and Raffi Hovannisian
Administrative Court of Armenia to deliver verdict on Barev, Yerevan Bloc's claim on May 20
Vice Speaker: Genocide of Pontic Greeks inseparable element of Armenian Genocide in Ottoman Empire
Catholicos-Patriarch of All Georgia is Against Rally to Support LGBT in Tbilisi
Ivanishvili States about Georgia's Role as Transit Corridor between the West and the East
SOCAR has options of efficient use of Baku-Novorossiysk pipeline
SOCAR not opposed to pumping of oil via Baku-Novorossiysk pipeline
Baku-Novorossiysk pipeline through the prism of Transneft
Ivanishvili Meets PACE President in Strasbourg
Georgia, RF Delegations to Hold Full-Format Meeting in PACE
1% of Respondents Willing to See Saakashvili on President's Post Again
The next meeting on the status of the Caspian Sea will be held in Tehran
To strengthen the fight against people trafficking
Mamedyarov meeting with Lieberman
Tbilisi Days to be Held in Prague Next Week - City Hall
Saakashvili a 'Puppet' in Russia's Hands - Zakareishili
Georgian Foreign Minister is Visiting Canada
Georgia and USA Discuss Deepening of Cooperation in Security Sphere
Georgian Premier Discusses Current Events in the Country with Dieter Boden
"Open house" for the media held in SCS
Baku to host Azerbaijan-Macedonian business meeting
Israel Released Program of Mammadyarov's Visit
Ilham Aliyev allocates one million manta for the executive power of Sabirabad
Hovanes Igityan: Today’s Armenia reminds me of the last years USSR
Mikayel Hayrapetyan: The West cannot change power in Armenia yet
Andrey Areshev: There are objective restraints to the United States’ policy in Armenia
Bulgarian Ambassador to Armenia is pleased with cooperation between two countries
Mateusz Piskorski: Armenia will shortly start negotiations on joining Eurasian Union in 2014
Head of “MIKA PROGRASSTECH”: Hi-tech companies of Armenia - a basis of the export-oriented economy
Ambassador of Brazil: Distance is not an obstacle if there is mutual interest
Ishkhan Mkhitaryan: Armenian Card: Good news coming soon!
Aram Karapertyan: Serzh Sargsyan's legitimacy is on Raffi Hovannisian's head
Ernst & Young: We do not compromise in the quality of our services or our independence
There are no serious grounds for rise in AMD/USD exchange rate in Armenia: experts
- Saturday, May 26, 18:19
Due to the Central Bank's intervention on Friday, the AMD/USD exchange rate on the retail market rolled back from 411 AMD to 408 AMD per 1 USD.
Experts believe that the measure might have been much more decisive, but without it the rate would continue to grow, making things even worse.
According to NASDAQ OMX Armenia, on Friday the amount of foreign exchange transactions on the stock exchange totaled $12.860mln, with the exchange rate being 407.22 AMD/1 USD.
On Thursday the turnover was $300,000, while the exchange rate was 406 AMD/1 USD, but in the evening it was already 409 AMD/1 USD.
From May 17 till May 22 the market was quiet. Everybody was waiting to see what would happen on May 22, when the CB was planning to issue $20mln to prevent speculations. But after a drop to 401.95 AMD, the rate started climbing again to hit 407.44 AMD on May 24.
Experts believe that the growth might be caused by high USD demand among importers rather than by some macro-economic factors. One more reason might be the post-election developments, particularly, the refusal of Prosperous Armenia to join the Republican Party. But the most convincing explanation is growing outflow of capital after the elections: in Q1 2012 the inflow of private money transfers grew by 10.3%, while the outflow by 13.8%, and it was especially high for Russia, the UAE, China and Turkey.
The growth in the AMD/USD rate started in early May 2012, when the rate was 392 AMD/1 USD.