YEREVAN, August 26. /ARKA/. On Tuesday, the Central Bank of Armenia carried out a covered intervention totaling $20 million, Haykakan Zhamanak (Armenian Time) reports.

The newspaper says referring to the regulator’s report on foreign exchange spot market that all the banks of Armenia bought dollars, but not a single bank sold this money.

“According to the central bank’s information the dollar traded at 483.64 drams, and this is nothing else but covered intervention,” Haykakan Zhamanak says.

It has also become known from the newspaper that the regulator is going to resort to another intervention amounting to $50 million to bar the Armenian dram from falling, but it is not clear yet what step the central bank will take, if this intervention produces no results. --0--