YEREVAN, July 22. / ARKA /. The World Bank has commended Armenia's Central Bank for purchasing $30 million saying in its monthly review of Armenia's economy that the deal will allow the regulator to replenish its international reserves and alleviate the pressure on the exchange rate caused by seasonal revaluation.

According to the review, the Central Bank refrained from intervention in the foreign exchange market in May, but bought $30 million from June 8 to June 26.

The WB said in May commercial banks reserved additional liquid foreign currency funds at the Central Bank, which led to an increase in gross reserves on a monthly basis to $102.9 million.

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Tags: alleviates, Central Bank, EXCHANGE

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