SCPEC doesn't rule out USD rate drop within next few days
The situation at currency exchange offices is under control and at present the dollar rate fluctuates between 360-380drams/$1, said the head of Armenian State Commission on the Protection of Economic Competition Ashot Shakhnazaryan at the press-conference. After the statement by Central Bank was made public, the sales of the dollar at the Stock Exchange made about $3mln. It means that the amounts of the dollar realization per day fell down ten times,said Shakhnazaryan and added that he did not eliminate the dollar rate fall within the coming days.
The day before the dollar rate in Armenia rose dramatically to 360dram per $1, the euro rate reached 440drams. The dollar rate at exchange offices before that had been 305-310 per $1, the euro rate-387 accordingly. The basic reason for such sudden surge of foreign currencies against the dollar was the statement made by the head of RA Central Bank, Arthur Javadyan, according to which the Central Bank of Armenia has made a decision to limit its interference in the foreign exchange market and to go back to the policy of the floating exchange rate.
The day before the dollar rate in Armenia rose dramatically to 360dram per $1, the euro rate reached 440drams. The dollar rate at exchange offices before that had been 305-310 per $1, the euro rate-387 accordingly. The basic reason for such sudden surge of foreign currencies against the dollar was the statement made by the head of RA Central Bank, Arthur Javadyan, according to which the Central Bank of Armenia has made a decision to limit its interference in the foreign exchange market and to go back to the policy of the floating exchange rate.
