“Most exchange offices were buying the dollar at AMD 441 and selling at AMD 448-449. The dram is entering a new phase of devaluation.
“Yesterday’s [i.e., Monday’s] collapse in the Russian financial market has definitely impacted this fluctuation in the exchange rate of the Armenian dram.
“The dram had devalued by 5 percent over the last 2-3 weeks, and it had not led to a widespread price hikes. But this is the boundary beyond which it will no longer be possible to avoid price hikes [in Armenia],” the newspaper wrote.
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