Central Bank has sufficient reserves to prevent artificial fluctuations of dram rate – official
The recent developments in the regional and international financial market, including the sharp fluctuations in the currency market, caused weakening of Armenian currency, Nerses Yeritsyan, deputy chairman of the Central Bank of Armenia (CBA), said on Thursday.
The official stressed that the Central Bank has sufficient reserves to prevent any artificial fluctuations of dram rate and ensure financial stability.
Prime Minister Hovik Abrahamyan instructed Artak Shaboyan, head of Armenia’s State Commission for the Protection of Economic Competition, to brief on the price increase in the domestic market at the next cabinet meeting.