The dollar in Armenia continues to lose value in relation to the Armenian dram amid the sharp growth of the country's economy.
According to the Central Bank of Armenia, on March 26, the dollar rate decreased by 0.37 drams, reaching 395.68 drams. The euro rate increased by 1.10 drams, reaching 429.51 drams. The Russian ruble rate remained unchanged at 4.27 drams. The British pound rate rose by 0.84 drams, reaching 500.77 drams.
The Central Bank of Armenia has set the following prices for precious metals:
The price of gold increased by 39.04 drams, amounting to 27690.68 drams. The price of silver increased by 0.66 drams, reaching 313.77 drams.
As noted by the Economy of Armenia Telegram channel specializing in economic news, the Armenian currency, after experiencing high revaluation in 2022, began to lose its value in September 2023 due to the military-political situation in the region.
At that time, the dollar rate rose from 385 to over 420 drams in just a few days but began to gradually decline, holding for a long time at around 405 drams. Now, against the backdrop of Armenia's high economic indicators, the dram has begun to strengthen again.
Earlier, BMG reported that in Armenia, during January-February 2024, economic activity increased by 13.6% compared to the same period last year. In February alone, this indicator increased by an additional 16.3%.
