ArmInfo.Materialization of the stability of the Armenian national currency - the dram is the growth of investment in Armenia. Doctor of Economics Tatul Manaseryan, expressed a similar opinion to ArmInfo.
"In this direction, the government is required to take steps to ensure attraction of investments in our economy. It is clear that foreign investors come to Armenia not only to ensure stability of the dram. In this light, increasing the investment attractiveness of Armenia remains an imperative that allows us to materialize the dram and accordingly, financial stability, "he said.
The economist sees the need to give importance and materialization of the national currency, primarily from within the country. However, he does not see such an aspiration among persons in charge of the economy at this stage.
Commenting on the observed revaluation of the dram, Manaseryan, among the reasons for this process, noted an increase in citizens' confidence in the national currency. At the same time, he did not rule out the Central Bank's interference in the process of price fluctuations in the domestic foreign exchange market in order to avoid unnecessary shocks. At the end of March, the US currency, having overcome the psychological mark of 500 drams, reached the rate of 505 drams for one dollar. To date, the dollar has almost returned to the pre-coronavirus level. The maximum purchase price for a dollar is 481 AMD, the minimum sale is 486 AMD for $ 1.
In general, according to the economist, fluctuations in the exchange rate of the national currency in countries with compact economies like the Armenian one are much lower than in countries with large economies, for example, the Russian one. In general, Manaseryan estimates the Armenian dram of recent years as a fairly stable currency, especially in comparison with other countries of the post-Soviet space.
"The dollarization level in Armenia is still high, as, indeed, throughout the world. Moreover, by and large, it is the fluctuations of the dollar-euro rate that play a decisive role in the formation of the rates of all other currencies. Accordingly, I do not exclude the intervention of the Central Bank to formulate this course in Armenia through the mechanisms at its disposal, while over the past 10 years I haven't noticed any special contradictions between the currency policy of the regulator and the natural course of events on the international currency market, "the economist concluded.
