We bury honored Mr. DOLLAR

1USD = 305AMD

Тhe coinage was drastically debased especially yesterday. Apart from some well-known reasons for such a dramatic exchange rate, which are the upcoming elections for allegedly putting higher numbers in the budget, and some people’s desires to accumulate more money, don’t know whether it may have some connection with yesterday’s All Armenian Fund raising Telethon during which they managed to gather $15,276000. If given that the previous day the exchange rate was 311AMD the difference with today’s rate should worry some people, especially when it is predicted to debase up to 250AMD as far as New Year celebration and feasting is not far anymore, and willy-nilly people will have to change their dollars sent from abroad.

Thus, dear compatriots, let’s lament the loss of our dear dollar, it was a good cheap fellow!!!

4 Responses to “We bury honored Mr. DOLLAR”

  1. Onnik Krikorian Says:

    It was below 300 dram later today apparently.

    Armenia Now had a story Friday when it hit 300:

    http://www.armenianow.com/?action=viewArticle&AID=2625&lng=eng&IID=1161&PHPSESSID=671f47fa70a5872e630d9a5308821119

  2. Global Voices Online » Armenia: Demise of the Dollar Says:

    […] Around Me reports that the Armenian Dram continues to strengthen against the Dollar. While many in Armenia continue to believe that the change is connected with the upcoming […]

  3. Zarchka Says:

    Yeah, learnt it later and the shock was even greater.

  4. John Says:

    Yeah!!! shockingly dram continued to rise against the dollar… and also the inflation in armenia , despite the economy of this country that is still in its infancy.
    Bad thing for foreigners in armenia. Especially the students. UNAFFORDABLE!!!

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