Armenia integrating in CIS forex market

09.02.2017 16:20
Armenia integrating in CIS forex market

YEREVAN, February 9. /ARKA/. Armenia’s National Assembly ratified Wednesday an agreement on cooperation with the integrated foreign exchange market of the Commonwealth of Independent States.

The agreement was signed on December 5, 2012 in Ashkhabad.

Nerses Yeritsyan, deputy chairman of the Central Bank of Armenia, said that in accordance with this agreement, the parties will be able to let other parties’ resident banks in their domestic foreign exchange markets for inter-banking conversion transactions.

Terms of these transactions, he said, will be no less favorable than those offered to the national commercial banks.

Yeritsyan said that the countries which have already ratified the agreement (Russia, Belarus, Kazakhstan and Kyrgyzstan) are members of the Eurasian Economic Union, where conditions at inter-bank foreign exchange markets are equal – they are mentioned in the Eurasian Economic Union constituent agreement.

“Armenia uses this agreement as well,” he said.

Yeritsyan also said that the agreement implies measures that promote the usage of national currencies in international trade and services.

The agreement is believed to lay the ground for enhancing the national currencies market liquidity. --0---


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