YEREVAN, February 26, /ARKA/. Head of World Bank Yerevan Office, Aristomene Varoudakis, said today World Bank expects Armenia’s Central Bank to remain committed to the floating exchange rate of the national currency Dram.
Speaking at a news conference he said, ‘We believe that the Central Bank’s interventions in the foreign change market are not meant to influence it but to paper over the sharp fluctuations of the exchange rate.’
He also stressed the need for implementation of measures to raise the competitiveness of domestically manufactured goods. ($1 – 384.37 Drams). -0-
