Economy Minister: Depreciation of Armenian dram is not result of economic situation

The increase in the exchange rate of the dollar in Armenia has a speculative nature, Armenia’s Minister of Economy told reporters at the National Assembly.

The depreciation of the Armenian dram is not a result of the economic situation, Karen Chshmaritian added.

Asked who is behind that speculation, the official said, “I cannot say that. The Central Bank of Armenia can resolve the situation in a short time using its legislative and administrative instruments.”