“Floating rates”

31/05/2006

Yesterday you could exchange 1 USD for 427 AMD at some exchange points in Yerevan. Generally, the USD exchange mark has been going down going down day by day. Whereas this change affects ordinary citizens, businessmen MPs look at it as a joke. The head of “Yerevan UAZ” company, former member of Rule of Law, Edward Gabrielyan told us that it was a result of change in the weather and added, “Business relations usually make the exchange mark change”. As for the owner of “Bellagio” restaurant, Grigor Margaryan, his opinion is different than what he used to think, “These are floating rates, they say once it may go down floating and then go up in the same manner. Ask this from the CB representatives, why do you ask me that?” Anyway, we still have the problem and there are many obstacles for solving this problem. You can read the explanation of candidate of economical sciences, vice-rector of the Russian-Armenian Slavonic University Edward Sandoyan in our next edition.