ARMENIAN DRAM DOWNFALL NOT TO INFLUENCE IMPORTED SPIRITS PRICE

PanARMENIAN.Net
03.03.2009 14:29 GMT+04:00

/PanARMENIAN.Net/ Agena company, which imports spirits to Armenia,
will not inflate prices for its products despite dollar exchange
rate increase.

"We will do our best to protect our consumers from negative
consequences of dollar upsurge," a company representative told
PanARMENIAN.Net.

Agena imports BAILEYS, JOHNNIE WALKER, DIAGEO, SMIRNOFF and SHERIDAN’S
brands in Armenia.

The dram-to-dollar exchange rate has gone up to AMD 360/$1 in few
hours today against yesterday’s 305 -310 index for sale and purchase
respectively.

Dram/euro exchange rate reached AMD 440 (against 387).

The upsurge followed CB President Arthur Javadian’s statement on
cessation of control over the foreign currency market and return to
floating rate policy.

According to the Central Bank, the dollar exchange rate will fluctuate
from AMD 360 to 380 in 2009.