New Year Shopping Spree Strengthens National Currency of Armenian
The appreciation of the Armenian national currency against the US dollar and other major foreign currencies since the beginning of December, according to analysts, is having a negative effect on the population depending on remittances and having main income sources calculated in dollars, while adding additional advantages to importers. Paradoxically, it is admittedly the result of a Catch 22 situation when the Holiday Season rush makes people exchange more, for less, as families stock for the long New Year celebration.
Some economists, however, say such factors as Central Bank inaction and control of the market by lucrative importing monopolies only make this situation worse in Armenian reality.








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