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Armenian CB Board Invalidates Licenses Issued To 17 Exchange Offices

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  • Armenian CB Board Invalidates Licenses Issued To 17 Exchange Offices

    ARMENIAN CB BOARD INVALIDATES LICENSES ISSUED TO 17 EXCHANGE OFFICES

    YEREVAN, May 18. /ARKA/. For violation of Armenia's foreign-exchange
    legislations, the Board of the RA Central Bank (CBA) has invalidated
    the licenses issued to 17 exchange offices, the CBA press service
    reports.

    Last December, the CBA started large-scale inspections at exchange
    offices, being concerned over the intensification of their activities
    in connection with exchange rate fluctuations. As a result, licenses
    issued to 22 exchange offices in Yerevan were revoked. P.T. -0--
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