Unzipped: Armenian Dram Memorial

Tuesday 3 March 2009

Armenian Dram Memorial

Sharp rise in USD exchange rate in Armenia

*photo - by Artur Papyan

5 comments:

artmika said...: Panic, uncertainty and rising prices - that's a mood and atmosphere in Yerevan today, and perhaps throughout the country. A1+ provided a very telling example: a customer picking up a bottle of oil at one of central Yerevan supermarkets with the labelled price of 400 dram, reaching a cashier only to find out that it now costs 600 dram. And many similar examples. Reports of people buying lots of products and foreign currency (US dollars). Some shops shut down due to pricing uncertainty.; 3 March 2009 at 14:50
Ankakh_Hayastan said...: Looks like the Central bank ran out of dollars to sell. I've been critical of of their policies since 2004 but the last 1 month was the biggest screw up. The babboons at CB now have a major FUBAR on their hands.

It's gonna be 'back to the dollar' situation now. It may take a decade until the credibility of Dram is recovered.; 3 March 2009 at 15:22
artmika said...: RIP, Dram...; 3 March 2009 at 15:56
Mediapitek said...: :)))))

RIP indeed. I was telling collegues earlier at work - it's not the Dram Memorial - it's the dram Tombstone :D; 3 March 2009 at 19:26
Anonymous said...: Vartan Oskanian and the Civilitas Foundation just recently released a statement about the conditions of Armenia's economy and what he believes the government must do now.

Article:
http://armenianamerica.wordpress.com/2009/03/03/the-civilitas-foundation-seeking-solution-within/; 3 March 2009 at 23:04

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