YEREVAN, April 13. / ARKA /. Armenian prime minister Tigran Sarkisian said today the Central Bank was well-equipped to protect the country’s forex market from shocks.
Speaking to journalists after a parliament Q&A session the premier recalled president Serzh Sargsyan’s words that the forex market must be protected from drastic fluctuations.
His remarks were about the national currency, Dram, that has lost against USD several percentage point over the last few days. According to Sarkisian, these developments were normal and typical of market economy.
Speaking at aMarch 11 extraordinary meeting with Tigran Sarkisian and his ministers dealing with the economy, president Sargsyan said revaluation of the dram had an adverse impact on the government’s measures to recover the economy. The president demanded also greater government support for the domestic manufacturing, construction and agriculture sectors.
According to the prime minister, since its inception the dram’s exchange rate has been determined by the market. According to experts, the national currency may devaluate to 380-400 drams per one USD by the end of this week. -0-
