Emergence of new banknotes does not signal imminent devaluation – ex-chairman of Armenian central bank says

30.01.2017 17:11
Emergence of new banknotes does not signal imminent devaluation – ex-chairman of Armenian central bank says

YEREVAN, January 30. /ARKA/. Ex-chairman of Armenian Central Bank Bagrat Asatryan has downplayed today fears that the emergence of many new banknotes in circulation may be the indication of an imminent devaluation of the national currency, telling a news conference there are no reasons of concern.

The emergence of many new banknotes with different face value is said to have caused some concerns among citizens, who believe that the move is somehow connected with the approaching parliamentary elections scheduled to take place in early April and may force the national currency, the dram, to lose its value rapidly.

"The circulation of a large number of new banknotes with various face value does not constitute a threat, because the monetary indicators, such as the money supply, cash turnover are within the normal range and do not contain any risks," Asatryan said.

According to him, the emergence of new banknotes in circulation is normal suggesting a gradual withdrawal of worn out bills. -- 0--


Tags:

Partners news
Loading...

Related Posts