I'm not sure whether this is good news or bad news, but the Dram has gained a lot on the dollar. The dollar exchange rate this week for the first time in years dropped below 500, meaning the dram purchasing power has increased substantially. Earlier this year the dram was as low as the 580s. This is not as good as it sounds however, since a large part of the population depends on remittances from their relatives abroad, which almost always come in dollars, and now get them much fewer drams when they convert them. It is also bad news for exporters who pay in drams here for their production and sell for dollars abroad. Who benefits? Locals with dram denominated salaries and importers...