YEREVAN, December 23. /ARKA/. Vache Gabrielyan, Deputy Chairman of Central Bank of Armenia said that purchase of about $8.5 million by CB is conditioned by the fact that Central bank is conducting operations in foreign currency market only in case of necessity of smoothening abrupt variations. “Currently such a development is also observed.
If in November the variations were mainly related to the abrupt revaluation of dram and CB was smoothening them, in December there is opposite tendency and the Central bank is smoothening these variations by abrupt revaluation of dram”, he said. —0—
