CEREALS AND FLOUR IMPORTERS REFRAIN FROM RAISING PRICES

PanARMENIAN.Net
03.03.2009 19:54 GMT+04:00

/PanARMENIAN.Net/ Whether the dollar exchange rate upsurge will have a
negative influence on flour and cereal prices is impossible to foresee.

"We’re yet refraining from any price changes" Maranik Ltd, one of the
major traders and importers flour and cereals told a PanARMENIAN.Net
reporter. Verfar company, specializing in the import of macaroni foods,
flour and cereals stated that they’re undecided about the price raise
for their products. "The situation is rather unstable. Perhaps tomorrow
it will become clear if the high exchange rate will stay. It’s not
the first time we witness dramatic ups and downs of dollar exchange
rate," the accountant Shushan Mosinyan said.

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.