ARMENIAN GOVERNMENT REFUTES PRESS REPORTS ON CHANGES IN AMD EXCHANGE RATE
ARKA
Feb 19, 2009
YEREVAN, February 19. /ARKA/. The RA Government has refuted the
information on changes in the AMD exchange rate reported by the
opposition press.
The RA Government has not issued any warning concerning a rise in the
AMD exchange rate to the banks operating in Armenia, reported the RA
Government’s press service.
The opposition press reported that the RA Government and the Central
Bank of Armenia (CBA) allegedly warned the commercial banks operating
in Armenia of a rise in the AMD exchange rate in the coming two months.
In her earlier interview to ARKA, Head of the CBA Public Relations
Service Zaruhi Barseghyan refuted the reports as well.
CBA Chairman Artur Javadyan had reported that the CBA remained
committed to its policy of floating exchange rate, and its priority
task is to ensure financial stability in the country.
He also pointed out that all the only purpose of the current
interventions by the CBA is to ensure financial stability.
The floating exchange rate policy was launched in Armenia in 1993
and has been welcomed by international institutions.
>From 2003 to 2008, 47.3% USD depreciation against the AMD was
registered in Armenia. January 8 through 29, the USD showed 0.7%
depreciation against the AMD. Since the beginning of 2008, the US
dollar has shown some revaluation – 305.94 AMD/$1 late in 20 07
against 305.22 AMD/$1 on February 18, 2009.