The Armenian Dram Conserves its Stability and Foreign Investments are on the Rise

The-Armenian-Dram-Conserves -its-Stability-and-Foreign-Investments-are-on-the-Rise

Head of Macroeconomic Directorate at the Central Bank of Armenia Armen Nurbekyan spoke with CivilNet host Eric Hagopian about the future trajectories and prospects of the Armenian currency and economy.

Throughout the interview, Nurbekyan highlighted the role of foreign remittances, especially from the United States of America, in stimulating the economy. In this context, Nurbekyan recognized the role played by the Armenian-American community in the transfer of foreign currency to the Armenian market.

Moreover, Nurbekyan asserts that the Armenian Dram has remained stable not because of Central Bank interventions but rather through a responsible approach in controlling inflation (currently 8.9%) and keeping the exchange rate flexible.

Lastly, according to Nurbekyan, foreign investments are on the rise because of the country’s macroeconomic stability, the transparency and attractiveness of the financial market, and furthering innovation by following global market developments. @civilnet.am

https://www.civilnet.am/news/635477/the-economy-is-performing-much-better-than-expected/?lang=en&fbclid=IwAR1OJBKPAifJSZPRYfsbLsBUgg28H0pX6epiRUT7_glUNJtzoMHiHA46yzQ

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