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Thursday, 24 June 2004

ARMENIAN DRAM GAINS FURTHER GROUND AGAINST DOLLAR, EURO

Published in News Digest

By empty (6/24/2004 issue of the CACI Analyst)

Continuing a trend that has now lasted four months, Armenia\'s national currency gained further ground over the past two weeks against both the U.S. dollar and the euro, RFE/RL\'s Armenian Service reported on 23 June.
Continuing a trend that has now lasted four months, Armenia\'s national currency gained further ground over the past two weeks against both the U.S. dollar and the euro, RFE/RL\'s Armenian Service reported on 23 June. As of 23 June, the dram was trading at 535 to the U.S. dollar compared with 564 drams in February, and has strengthened from 724 to 655 drams to the euro over the same time frame. A spokeswoman for the Armenian National Bank attributed the rise to the increased inflow of foreign currency into Armenia. (RFE/RL)
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