Sharp fluctuation of AMD exchange rate is result of market developments

PanARMENIAN.Net - Mr. Guillermo Tolosa, Resident Representative of the International Monetary Fund (IMF) in RA said that Armenia is pursuing a policy of floating exchange rate and sharp fluctuations of the national currency exchange rate are a result of market developments.

“It is difficult for economists to forecast the national currency exchange rate, since many factors have an effect on it. Armenia's population should get accustomed to the floating exchange rate policy,” Mr. Tolosa told a press conference in Yerevan.

He added that the exchange rate often varies as a result of activity of “street” profiteers, what can imply some losses. “National currency consolidates in those countries where the economy gets stabilized,” Mr. Tolosa said.