Armenia’s national currency weakens against USD by 8.45 points after
strengthening on march 11, 2009

YEREVAN, March 11. /ARKA/. The national currency of Armenia weakened
against USD again after being strengthened in the period from March 3
to 9.

Average market exchange rate of Armenian dram against U.S. dollar
slipped 8.45 percentage points and came to 369.73 drams for $1 on March
11 on Armenia’s foreign exchange market, the Press Service of the
Central Bank of Armenia reported.

On March 3, CBA Chairman Arthur Javadyan officially stated that the
Central Bank had decided to abridge its interventions in the foreign
exchange market, returning to the policy of the floating exchange rate.
According to CBA experts, the average weighed AMD/USD exchange rate is
expected to range from AMD 360 to AMD 380 per $1. `0–