ARMENIAN CB BOARD INVALIDATES LICENSES ISSUED TO 17 EXCHANGE OFFICES

YEREVAN, May 18. /ARKA/. For violation of Armenia’s foreign-exchange
legislations, the Board of the RA Central Bank (CBA) has invalidated
the licenses issued to 17 exchange offices, the CBA press service
reports.

Last December, the CBA started large-scale inspections at exchange
offices, being concerned over the intensification of their activities
in connection with exchange rate fluctuations. As a result, licenses
issued to 22 exchange offices in Yerevan were revoked. P.T. -0–