HSBC Bank Armenia forecasts no major fluctuations in AMD exchange rate

PanARMENIAN.Net - HSBC Bank Armenia CJSC does not expect any serious fluctuations in exchange rate of Armenian dram, HSBC Bank Armenia Chief Executive Officer Astrid Clifford said.

According to her, it is difficult to forecast any changes due to absence of apparent tendencies caused by seasonal factor. Nevertheless, considerable financial means entering Armenia from Diaspora help prevent AMD devaluation by the yearend, Ms. Clifford said.

Deals amounting to $2,75 mln. at an average rate of AMD 384,47 /USD1 were concluded at NASDAQ OMX Armenia on Nov 21. The closing price totaled AMD 384,80.

The market average rate of USD totaled AMD 384,32 on Nov 21, increasing by 0.37 point compared to Nov 18, exchange rate of euro amounted to AMD 517,10, decreasing by 2.58 points while the rate of Russian ruble decreased by 0.07 point to total AMD 12,37.