CB PUBLISHED FOREIGN CURRENCY MARKET ANALYSIS RESULTS
In 23-25 November 2007 it was registered strict decrease of foreign currency rate exchange and the Central Bank (CB) announced that results of the investigation would be published after the presidential elections. Hence, the CB spread the publication of the results and the CB press department also informed the Panorama.am.
According to the source, what happened in 23-25 November (non working days) was the result of speculative behavior of some banks and exchange centers, as well as the some businessmen foreign currency large-scale cash operations.
The CB held an observation in “Prometey Bank” LLC and found out violations of the current legislation on foreign currency.
In the result of the violation reveal the bank was fined. CB carried out observation in some banks and notified large-scale cash operation. Some exchange centers were also observed. In “Valletta” LLC and other exchange centers the CB revealed violations and the companies were fined and obliged to pay from 50000 drams to 750000 drams.