CURRENCY FLOW INTO ARMENIA CAUSED FALL OF USD RATE OF EXCHANGE

On July 22 the rate of exchange of the US Dollar fell with 62 points as compared to the beginning of the year and was fixed at 495-500 drams for 1 USD. In the words of head of transaction department of the financial markets Gayane Matevosian, the rise of price of the Armenian Dram is connected on the whole with the increase of dollar flow from abroad. According to the Central Bank, the currency is coming to Armenia mostly from Russia, the US, Germany and Switzerland. At the same time, Ms. Matevosian says, export amount had a 40% rise (precious stones not included) and the number of tourists also increased. Such tendencies caused a 70% rise in currency flow into Armenia. At that the Central Bank excludes the possibility of artificial influence at the rate of exchange from the direction of local oligarchs. Meanwhile, independent experts hold the opinion that the process of money laundering is going on in Armenia.