The Dram's Drama

During these days, I have given 5 interviews on this topic.

The interviews will provide answers to the following questions:

• What is happening with the exchange rate?
• What is the connection between Russia’s economic crisis and Artsakh?
• What new shocks might await Armenia?
• What awaits us?
• What should be done to strengthen the economy and the state?

1. Interview given to Nver Mnatsakanyan about exchange rate speculation and the economic consequences of Artsakh’s loss.

2. The loss of Artsakh is also an economic shock; even greater shocks may occur. This interview was given on Monday when the dollar exchange rate had reached 450 drams. In this interview, I predict that the depreciation is merely speculation and that the dram will strengthen again in the coming days.

3. 10-15% depreciation of the dram in a few days, what is happening in the exchange rate market? I gave this interview to Public Radio of Armenia.

I have given 2 interviews to the Banks.am portal.

4. “The dollar exchange rate is falling, those holding it have lost.”

5. “Gas prices could rise.”

It is also worth noting that at the highest point of the exchange rate, when the dollar reached 420-450 drams, I made a prediction that by the end of that day, the dollar would be 410-420. By the end of that day, the dollar fell from 430-450 to 403-418 drams.

Over the next month, we forecast certain economic changes. If you wish to be among the first to learn about them, please contact us.

English Summary

In recent days, the Armenian dram has experienced a 10-15%, leading to increased demand for dollars and euros at exchange points. The Central Bank of Armenia has shifted to intervention in the foreign exchange market to address this situation. After which there was 10-15% revaluation back to previous prices. All of this happened in the span of 3 days. We attribute the dram’s recent depreciation to expectations and speculation, causing panic in the exchange rate market. Some factors contributing to this include negative expectations about future economic conditions and the accumulation of foreign currency due to lack of confidence in the dram. Despite the recent fluctuations, we do not see serious threats to financial stability in Armenia at the moment.