The published exchange rates for November 22, 2024, reflect the daily fluctuations in the global currency market, emphasizing the dynamics of Armenia’s economic interactions with international currencies. These rates serve as crucial indicators for businesses, travelers, and financial analysts operating within or in connection to Armenia’s economy.
The exchange rate of 1 USD = 389.76 AMD and 1 EUR = 406.40 AMD suggests relative stability in the Armenian dram against major global currencies. This stability is critical for importers and exporters, particularly in the context of energy and consumer goods. The Russian Ruble (RUB) at 3.79 AMD indicates a continued dependency on regional trade partners like Russia. The gold (XAU) price of 33,399.07 AMD per unit and silver (XAG) at 389.28 AMD per unit showcase precious metals as consistent investment assets amidst fluctuating currencies.
The exchange rates of Kazakhstani Tenge (KZT = 7.81 AMD for 10 units) and Kyrgyzstani Som (KGS = 4.51 AMD) highlight the economic ties between Armenia and other CIS nations. The Georgian Lari (GEL = 142.31 AMD) reflects cross-border trade significance. Currencies like Uzbekistani Som (UZS = 0.30 AMD for 10 units) and Iranian Rial (IRR = 0.93 AMD for 100 units) showcase limited market activity but underline Armenia’s economic ties with neighboring and regional partners.
These exchange rates demonstrate Armenia’s interconnectedness with both global and regional markets. For businesses and policymakers, monitoring these rates is essential for forecasting economic trends, managing trade balances, and securing financial stability. The data also emphasizes the Armenian dram’s resilience in navigating volatile global markets.
