CB ENACTS ITS BAN ON PLACEMENT OF CURRENCY EXCHANGE RATE BOARDS OUTSIDE CURRENCY EXCHANGE OFFICES

arminfo
2008-05-14 23:23:00

ArmInfo. Today, the Central Bank of Armenia enacted its ban on the
placement of currency exchange rate boards outside currency exchange
offices. The decision was made on May 14.

The press service of the CB has refused to explain why the CB has
made such a decision.

Experts say that the CB may wish to exclude unfair competition among
currency exchange offices. If before a person wishing to exchange
currency could see lots of boards on the street and decide where to
go, now, he will have to enter each office separately or to stop at
the very first attempt.

To remind, the CB regularly monitors the situation on the cash
currency market. It has detected lots of instances of groundless
under- or over-pricing and has fined the wrong-doers. Now it seems
to be willing to root out not only unfair competition but also the
"street" mentality.