|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)
|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|