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PROBLEMS OF MODERN ECONOMICS, N 1 (33), 2010
FINANCE AND CREDIT SYSTEM: BUDGET, CURRENCY AND CREDIT REGULATION OF ECONOMY, INVESTMENT RESOURCES
Markosian A. Kh.
Deputy, Head of the Department for Managing State Property, Government of the Republic of Armenia PhD (Economics), Professor
Petrosian M. A.
Executive Director, Stock Company “MAP”, PhD (Economics)
Ovasapian A. V.
Research Fellow, M.Kotanian Institute of Economics National Academy of Science of the Republic of Armenia PhD (Economics)

Volatility of exchange rates of the national currents in China, Russia and Armenia in respect to the US dollar over the long run (Armenia, Erevan)
The article discusses currency rates of a number of countries in the long run using theoretical principles and comparing the actual data. Volatility of exchange rates of the national currencies in Russia and China is explained by changes in endogenous parameters, whereas in Armenia qualitative characteristics of the exchange rate dollar – dram reveals the existence of a certain exogenous component
Key words: national currency, exchange rate, volatility, economic growth, index of consumer prices, export, import, external trade balance

Article in russian

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