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Cigarette Importers Take Timeout, Review Prices

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  • Cigarette Importers Take Timeout, Review Prices

    CIGARETTE IMPORTERS TAKE TIMEOUT, REVIEW PRICES

    PanARMENIAN.Net
    03.03.2009 18:30 GMT+04:00

    /PanARMENIAN.Net/ Armenian cigarette importer Avers suspended the trade
    today and closed the offices for stocktaking because of USD exchange
    rate upsurge, Avers accountant, Ms. Sara Sepanyan told PanARMENIAN.Net
    reporter today. "We're all waiting for the development of events. Right
    now we are consulting together to determine the exact raise in product
    price. "Even if prices grow, we'll do our best for them not to affect
    our consumer's finances too much."

    VIDIS Distribution, the financial adviser of Philippe Morris
    representation in Armenia, stated that no price changes have been
    effected. "We could be condidering the possibilities of price change
    later," the company representative noted

    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.

    From: Emil Lazarian | Ararat NewsPress
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