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CB Enacts Its Ban On Placement Of Currency Exchange Rate Boards Outs

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  • CB Enacts Its Ban On Placement Of Currency Exchange Rate Boards Outs

    CB ENACTS ITS BAN ON PLACEMENT OF CURRENCY EXCHANGE RATE BOARDS OUTSIDE CURRENCY EXCHANGE OFFICES

    arminfo
    2008-05-14 23:23:00

    ArmInfo. Today, the Central Bank of Armenia enacted its ban on the
    placement of currency exchange rate boards outside currency exchange
    offices. The decision was made on May 14.

    The press service of the CB has refused to explain why the CB has
    made such a decision.

    Experts say that the CB may wish to exclude unfair competition among
    currency exchange offices. If before a person wishing to exchange
    currency could see lots of boards on the street and decide where to
    go, now, he will have to enter each office separately or to stop at
    the very first attempt.

    To remind, the CB regularly monitors the situation on the cash
    currency market. It has detected lots of instances of groundless
    under- or over-pricing and has fined the wrong-doers. Now it seems
    to be willing to root out not only unfair competition but also the
    "street" mentality.
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