YEREVAN, December 20. / ARKA /. The Central Bank of Armenia auctioned today $1.7 million to local commercial banks at the average weighted exchange rate of 447.5 drams per one USD.

The Central Bank’s offer was worth $4 million, however, only $1.7 million worth bids were made.

The Central bank began selling fixed amount of hard currency to local banks on December 8 and will be doing so until the end of the year.-0-