Weighted average rate of Armenian Dram to us dollar is 362.73 for $1 on November 17, 2009

At a press conference on Tuesday, Martin Galstyan, Chairman of the Central Bank of Armenia, commented on the impact of the strengthening of the dram on the price dynamics of imported goods.

The decision of the Board of the Central Bank of Armenia to raise the refinancing rate was primarily due to excessive demand factors, Central Bank Governor Martin Galstyan stated in response to a question from ARKA news agency.

Armenia's financial agenda last week focused primarily on the capital market, the banking sector, government borrowing, and the development of payment infrastructure.

On Wednesday, at the opening meeting with the IMF mission delegation to Armenia, led by Alexander Timan, the Governor of the Central Bank of Armenia, Martin Galstyan, discussed recent macroeconomic developments, economic prospects, and key risks.

Acba Bank will act as a market maker for dram-denominated bonds of the European Bank for Reconstruction and Development (EBRD) on the Armenia Securities Exchange (ASE), ensuring their liquidity in the secondary market, the bank's press service reported.