ARMENIAN GOVERNMENT PROPOSES ALLOWING EXPORTERS AND THEIR FOREIGN PARTNERS TO GIVE PRICE QUOTATIONS IN FOREIGN CURRENCY IN THEIR AGREEMENTS

Noyan Tapan
Oct 25, 2007

YEREVAN, OCTOBER 25, NOYAN TAPAN. At the morning sitting on October
25, the RA National Assembly passed in first reading a package of
bills prepared by the government. The bills envisage amendments and
additions to the Law on Currency Regulation and Currency Control and
a number of other laws.

According to the main speaker, deputy chairman of the Central
Bank of Armenia (CBA) Artur Javadian, previously deals in foreign
currency were allowed between residents and nonresidents but giving
price quotations in foreign currency in agreements was forbidden by
law. Taking into account the proposals of a number of exporters, the
government has decided to liberalize relations between exporters –
legal entities and their foreign partners, allowing to give price
quotations in foreign currency in the agreements signed between them.