Armenian central bank calls media reports about devaluation of dram by arrangement with government absurd and groundless

03.04.2019 22:44
Armenian central bank calls media reports about devaluation of dram by arrangement with government absurd and groundless

YEREVAN, April 3. /ARKA/. Media reports about devaluation of dram by arrangement with the government are groundless and absurd, Harut Kbeyan, spokesman of the Central Bank of Armenia, posted on his Facebook page.

Zhamanak reported today that the government and the regulator decided to devaluate the Armenian national currency by 20 drams to spur the country’s export. This meant that 1 US dollar would cost more than 500 Armenian drams.

However, it has become known later from Kbeyan’s post that the paper’s report had nothing in common with the reality.

The central bank spokesman said that the regulator pursues a floating foreign exchange rate policy. More than that, he said, all its currency-buying or –selling actions are transparent, and appropriate information is released on its official website, providing analysts with an excellent opportunity to be in touch with any movement.

Kbeyan also urged media sources to rouse themselves and call the central bank for official comments.
According to the regulator, one dollar traded at 484.37 drams on January 8, 2019, and on April 2, it traded at 486.47 drams. -0--


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