VAHAN HOVHANNESYAN: ARTIFICIAL MAINTENANCE OF AMD EXCHANGE RATE HARMS LOCAL MANUFACTURERS
PanARMENIAN.Net
19.03.2010 19:05 GMT+04:00
/PanARMENIAN.Net/ Artificial maintenance of AMD to USD exchange
rate gave no positive results. On the opposite, by artificially
maintaining the exchange rate, Armenian government squandered its
foreign currency reserves. Now that they’re wasted, USD started going
up, ARFD parliamentary faction leader Vahan Hovhannesyan stated at
parliamentary briefing.
Artificial maintenance of exchange rate also harmed local
manufacturers, who purchased raw material with high costing drams,
selling the ready product abroad at low costing dollars, Vahan
Hovhannesyan concluded.