Yerevan /Mediamax/. “Cascade Investments” forecasts AMD appreciation in the course of the entire year 2009.

Mediamax reports that the analytical review of “Cascade Investments” for April, 2009, reads this.

According to the forecasts of the company experts, in the second quarter, 2009, Armenian currency will appreciate up to 368 AMD per 1 USD, in the third quarter – up to 353 AMD, and in the fourth – to 345 AMD.

“The slow growth in the world markets and the unchanged oil prices have reduced the external inflationary pressure on Armenia, introducing stability in the currency market of the country. At that the volume of USD trading on NASDAQ OMX Armenia stock exchange made $38.5mln in April given average weighted price of 369 AMD per 1 USD, which is lower, as compared to off-exchange price”, “Cascade Investments” establishes, accounting this for the interventions of the Central Bank (CB) of Armenia.

“If the Central Bank does not intend to support USD anymore, our forecasts of USD/AMD correlation remain mainly positive with possible appreciation  of AMD against USD”, “Cascade Investments” sums up.