The exchange rate of the US dollar has decreased sharply. One dollar was bought today for 393 drams and sold for 403 drams.
In a conversation with Radar Armenia, economist Karlen Khachatryan, referring to the decrease in the dollar exchange rate, noted that it restrains inflation. "If we did not have such a drop in the dollar exchange rate, we would have a sad picture of inflation. But, on the other hand, the low exchange rate of the dollar creates serious problems both for the exporting companies and the social strata that cover their daily expenses through remittances, causing certain social problems."
According to Khachatryan, there is a double effect in the current situation, and it is difficult to assess which option is more dominant.
According to him, from the point of view of long-term development, the problem is mainly the problems arising in the export sector, which the government should pay attention to; otherwise, as a result of the elimination of short-term factors, we may have severe problems in the economy.
The economist attributes such a drop in the dollar exchange rate primarily to external factors. According to him, the exchange rate will increase after eliminating these factors. Khachatryan found it challenging to say how long this would last. "This is not due to internal economic processes."
