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Financial Services Monitor Worldwide
November 26, 2014 Wednesday
CB says its reserves are enough to maintain financial stability in Armenia
The adjustment of the exchange rate of the Armenian currency is
determined by the recent developments on regional and international
financial markets and promotes export competitiveness, economic
growth, creation and maintenance of sustainable workplaces, the
Central Bank of Armenia said in a statement on Monday.
The statement followed a significant depreciation of the Armenian dram
against the U.S. dollar registered on the market in recent days. The
average exchange rate of the U.S. dollar in Armenia by late Monday was
435 drams, while the American currency could be purchased at around
415-420 drams only a few days ago.
The Central Bank said it had consulted with all participants of the
financial markets and found that "the current exchange rate fully
reflects the aforesaid developments and is in the range of
stabilization."
It emphasized that its reserves are enough to prevent "all kinds of
artificial fluctuations of the exchange rate and ensure financial
stability." 2014 Global Data Point.
November 26, 2014 Wednesday
CB says its reserves are enough to maintain financial stability in Armenia
The adjustment of the exchange rate of the Armenian currency is
determined by the recent developments on regional and international
financial markets and promotes export competitiveness, economic
growth, creation and maintenance of sustainable workplaces, the
Central Bank of Armenia said in a statement on Monday.
The statement followed a significant depreciation of the Armenian dram
against the U.S. dollar registered on the market in recent days. The
average exchange rate of the U.S. dollar in Armenia by late Monday was
435 drams, while the American currency could be purchased at around
415-420 drams only a few days ago.
The Central Bank said it had consulted with all participants of the
financial markets and found that "the current exchange rate fully
reflects the aforesaid developments and is in the range of
stabilization."
It emphasized that its reserves are enough to prevent "all kinds of
artificial fluctuations of the exchange rate and ensure financial
stability." 2014 Global Data Point.