Armenian Central Bank’s interventions in forex aimed at preventing dram revaluation in 2013

27.05.2014 12:57
Armenian Central Bank’s interventions in forex aimed at preventing dram revaluation in 2013

YEREVAN, May 27. /ARKA/. Interventions by the Central Bank of Armenia in forex market in 2013 aimed at preventing the dram revaluation and supporting exports, head of the Central Bank Artur Javadyan said on Monday.

Unlike the previous years the bank had to buy much more dollars in the market than needed this year to help exporters, Javadyan said at a meeting on 2013 budget execution in the parliament.

Seasonal price and forex fluctuations are explicit in Armenia, he said. Dollar versus dram rate strengthens in summer, unlike the rate in November and December when imports grow.

The head of the central banks also said since March they kept buying dollars, having purchased a total of about $134 million by the end of the year. –0--


Tags:

Partners news
Loading...

Related Posts