HENCE PRICES IN ARMENIA WILL BE FIXED ONLY IN NATIONAL CURRENCY

YEREVAN, JUNE 28. ARMINFO. The new law of the Republic of Armenia in
currency regulation and currency supervision comes into force beginning
from today. ARMINFO was informed in the press office of the Central
Bank of Armenia, this law is aimed at strengthening of the role and
significance of the national currency. In particular, according to
the law, the price quotations of goods, selling of property, provision
of services and doing works will be fixed only in Armenian drams.

Besides, the law stipulates that commercial banks and credit
organizations, who have the right for carrying out currency operations,
will be obliged to fix tariffs for services and receive payments from
clients only in drams. The law applies to natural and legal entities
irrespective of the fact are they residents of Armenia or nonresidents.

Central Bank of Armenia, Ministry of Finances and Economy of Armenia
and State Tax Service of Armenian Government will carry out supervision
over fulfillment of currency legislation within framework of their
functions.