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Long-term introduction of a single Eurasian currency will have a positive impact on Armenia's economy, says Head of the Union of Banks of Armenia

  • by Arthur Yernjakyan

  • Thursday, February 13, 13:34

 Long-term introduction of a single Eurasian currency will have a positive impact on Armenia's economy, Samvel Chzmachyan, the Head of the Union of Banks of Armenia, told reporters.  

He brought the example of the European Union where introduction of EUR has positively affected the economies of European countries in general. However, Chzmachyan does not think such scenario is possible so far. This is possible in the long-term outlook, he said. Chzmachyan disagreed with the views that the Armenian dram along with the Russian ruble and Kazakh tenge has devalued against the US dollar.  "Dram has certainly devalued, and then recovered," he said.

To recall, on September 3, 2013 in Moscow the Presidents Serzh Sargsyan and Vladimir Putin confirmed the aim of the Republic of Armenia and the Russian Federation in the direction of further development of economic integration processes in the Eurasian territory. The Eurasian Union is supposed to come into effect on Jan 1 2015. In this light, the Armenian public is concerned over possible introduction of a single Eurasian currency. 

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