GOVERNMENT DENIES RUMOR ABOUT BANKS BEING WARNED OF CHANGE IN ARMENIAN DRAM’S EXCHANGE RATE
Noyan Tapan
Feb 18, 2009
YEREVAN, FEBRUARY 18, NOYAN TAPAN. Both the Armenian government and
the Central Bank of Armenia (CBA) on February 18 denied the press
rumors that the government and CBA have warned the banks about a
change in the exchange rate of the Armenian dram against the dollar
soon. NT correspondent was informed by the press service of the
government that there could not even be such a warning to banks by
the government. In the words of spokeswoman for CBA Zaruhi Barseghian,
this is false information and has a political implication.
It is noteworthy that in the February 18 issue of Armenian Time daily,
it was written: "The Armenian government and the CBA have informed and
warned all the banks operating in Armenia that the exchange rate of the
dram against the dollar will rise up to 420-450 drams in the next two
months. The aim of this warning is that the banks will take it into
account when making their plans for the near future and thus avoid
unexpected situations. The problem is that the CBA is not able to keep
the dram’s exchange rate any more. Only during two days of this week,
the CBA carried out an intervention of more than 20 million dollars".