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Armenian Oligarch Supports CB New Policy

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  • Armenian Oligarch Supports CB New Policy

    ARMENIAN OLIGARCH SUPPORTS CB NEW POLICY

    PanARMENIAN.Net
    03.03.2009 19:06 GMT+04:00

    /PanARMENIAN.Net/ "The new CBA policy will improve the situation of
    the county's exporters, who for the last 3 years were in a much worse
    state as compared to importers," Prosperous Armenia Party leader,
    major entrepreneur Gagik Tsarukyan told a news conference on Tuesday.

    According to Tsarukyan, Armenia should by guided by the developed
    countries, practicing floating rate policy specifically, Russia.

    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.
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