AMD yesterday, today and in the future

29 years ago, on November 22, 1993, the national currency, the Armenian dram, was issued, that was of utmost importance from the beginning of the country’s independence.

Head of ASUE Chair of Finance, PhD in Economics, Associate Professor Levon Barkhudaryan who was Minister of RA Ministry of Finance from 1993-1997 remembers the challenges faced by the Ministry and the revolutionary decision made during that time period.

Population of Armenia was happy to accept the establishment of the national currency.

Levon Barkhudaryan points out that before the acceptance of the national dram, Armenia was in the zone of ruble and could not lead its own fiscal or budgetary policy. It enabled us to resist the direct influence of some crises and overcome its negative consequences.

Levon Barkhudaryan responded to the question on the direction of the Armenian dram and he predicts that further evaluation of foreign exchange against the Armenian dram is not possible no matter how desirable it is for the exporters, IT companies and other economic entities.

For more detailed information please see the Armenian Version.