When the Euro is Cheaper than the American Dollar: The Situation in the Currency Market

EconoMood presents a graph showing the average exchange rates of the US dollar and the euro against the Armenian dram over the past two years. The data is sourced from the Central Bank of Armenia. It is noted that for the past two days, the exchange rate of the euro against the Armenian dram has been lower than that of the American dollar. The last comparable level for the euro/AMD exchange rate was recorded in January 2009. Today, the euro/AMD average exchange rate has been set at 401.63, while the USD/AMD average exchange rate has reached 404.84, marking the lowest point since the end of 2013.

Analyzing data from Rate.am, we see that the euro is cheaper than the American dollar. The minimum purchase price for dollars is 402.50 drams, and the maximum is 407. For selling dollars, the minimum price is 411 drams, while the maximum is 417.

As previously mentioned, the euro has depreciated against the dollar. Consequently, the buying price of the euro in Armenian banks ranges between 396 drams and 405 drams, with selling prices ranging from 413 drams to 426 drams. In Armenian banks, the dollar is approximately 10 drams more expensive than the euro.

The buying price of the ruble ranges from 5.79 drams to 6.53 drams, while the selling price varies from 6.70 drams to 7.10.