Yerevan/Mediamax/. Chairman of the Union of Armenian Banks (UAB) Ararat Ghukasyan believes that USD demand has been met and AMD will start appreciating again.

“In the course of the recent days there was additional USD demand observed in the market, which led to the fact that AMD exchange rate surpassed the limit of 400 AMD for 1 USD. I believe, however, that now this demand has been met and the USD exchange rate will start going down”, Ararat Ghukasyan stated in an interview to Mediamax.

He expressed opinion that AMD will not be devalued to a degree forecast by economists. According to him, the exchange rate will get balanced in the nearest future within the range of 380-400 AMD for 1 USD.

“In general, I see no serious reasons for serious devaluation of Armenian currency. Simply increase of AMD base took place in the market and additional AMD resources were absorbed by the economy with greater difficulty than in the previous months”, Ararat Ghukasyan stated.