Why is Dollar Appreciating?

    • Business - Tuesday, 03 July 2012, 15:42

The U.S. dollar keeps appreciating in Armenia in case its rate relating to Euro has been stabilizing in the international market for a couple of weeks already.

The dollar rate is approaching the 420 limit in Armenia. Economist Samvel Avagyan says this is an incomprehensible appreciation.

According to him, the U.S. dollar had to depreciate in this stage, since the factors to influence its appreciation in the international market don’t exist. The dollar should start depreciating since tourists bring a lot of dollar in the country and there is no large amount of dram it the market, says Samvel Avagyan.

According to him, the situation is determined by the stock exchange policy. According to the economist, if the foreign currency platform is closed for three days, the situation will stabilize.

The economic also noted that we can say in this situation that the foreign currency fluctuations in Armenia are not determined by the international developments, like it is usually presented by official messages.

Business

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