Armenian financial markets stable now – acting minister

27.04.2018 20:10
Armenian financial markets stable now – acting minister

YEREVAN, April 27. /ARKA/. Armenia’s financial markets are in a stable state, Vardan Aramyan, acting finance minister, told journalists on Thursday.

On April 23, Serzh Sargsyan, who was appointed one week earlier by the Armenian parliament as prime minister amid widespread disaffection for him, resigned under the pressure of mass protests against his premiership. On the same day, Armen Sarkissian, Armenian president accepted the government’s resignation.

At a rally held on April 25, Nikol Pashinyan was nominated for the prime-ministerial post.

Aramyan told journalists that stability and discipline are maintained in the country’s finance system, and the exchange rate of the Armenian national currency shows that.

“The exchange rate shows that there are no risks or pessimistic sentiments,” he said.

In his words, there are no problems also with primary and secondary placement of bonds.

“This means that financial markets are in a stable state now and that the central bank keeps a close eye on the situation,” he said.

In this connection, the acting minister, added that regardless of political developments, officials should do whatever is possible to shield the country’s economy from shocks, since this will strike hard at all.

Two days earlier, Arthur Javadyan, the head of the central bank, said that nothing threatens to the Armenian dram, and the regulator is taking all necessary steps.

According to the Central Bank of Armenia, the average exchange rate was $1 = AMD 481.96 on April 26.

On April 11, when the dollar was sold at AMD 483.12, the U.S. currency started going down against the Armenian dram.

As a whole, from the beginning of the year the Armenian national currency was stable, and it is stable today against the US dollar. All fluctuations are within season norms. --0---

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