YEREVAN, February 5. /ARKA/. An Armenian daily ‘Haykakan Zhamanak’ (Armenian Time) says in an apparent effort to prevent a renewed depreciation of the national currency, the dram, the Central Bank of Armenia (CBA) injected on February 4 over $29 million in the local currency market.

According to the newspaper, this was the first and ‘impressive’ currency intervention, made by the Central Bank recently.

"This means a rising demand for hard currency, which may lead to a significant depreciation of the dram. However, given that the demand did not cause panic among the population, one can say that the situation will be controlled by the Central Bank for a long time," the newspaper says.

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In response to a sharp depreciation of the national currency, the dram, against the USD and euro Armenia’s Central Bank said in a statement today that the exchange rate ‘is in the stabilization zone

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A former Armenian prime minister urged today the government to take swift action and prevent the depreciation of Euro in the country.

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Arsen Sarkisian, the chief dealer of Cascade Bank, predicted today a further depreciation of the national currency to 420 Drams per one USD.

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