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CBA chair: 95% of monetary transfers account for tranfers in US $$s

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  • CBA chair: 95% of monetary transfers account for tranfers in US $$s

    ARKA News Agency
    Oct 7 2005

    CBA CHIARMAN: 95% OF MONETARY TRANSFERS TO ARMENIA ACCOUNT FOR
    TRANSFERS IN USD

    YEREVAN, October 7. /ARKA/. 95% of monetary transfers to Armenia
    account for transfers in USD, as the CBA Chiarman Tigran Sargsyan
    stated in the framework of the Second open international interbank
    conference "Monetary Transfers". According to him, the problem is
    that citizens have no possibility to choose the currency of payment,
    but they might like to transfer rubbles from the RF and receive AMD
    in the RA. According to Sargsyan, AMD appreciation to USD has been
    recorded in the RA recently. It caused discontent of people who
    receive transfers in USD, since the buying capacity of USD reduced by
    17%.
    According to Sargsyan, the problem of monetary transfers is actual in
    Armenia. "The actuality of the issue has been observed all over the
    world. The issue is discussed at all international conferences. The
    phenomenon is preconditioned by the inflow of migrants from many
    countries and by the fact that migrants make monetary transfers to
    their relatives", he said. According to him, the second factor
    contributing to the growth of monetary transfers is the active
    monetary policy program of the USA and growth of dollar liquidity.
    A.H. -0--
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