ARMENIAN BANK DEALERS FORECAST SIGNIFICANT GROWTH OF DOLLAR EXCHANGE RATE IN CASE OF SECOND ROUND OF ELECTIONS

February 20, 2003 - 19:10 AMT
PanARMENIAN.Net - Armenian bank dealers forecast significant growth in the dollar exchange rate in case there is the second round of the presidential elections. Refraining to name the upper possible limit, they emphasized that fluctuations would be abrupt. If this is the case, as reported by "Arminfo" agency, in their opinion, the Central Bank will intervene within the two weeks before the second round. The bank dealers found it difficult to mention the intervention volume. Today the dollar exchange rate at the currency retail market comparatively increased, reaching the average of 590 Armenian drams for 1$.
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