YEREVAN, March 5. /ARKA/.The trading deals were made at an average weighted exchange rate of 411.42 drams per $1 at NASDAQ OMX Armenia yesterday, however the deals ended up at 410.75 drams per $1.
Herewith, we can state the Central Bank of Armenia had conducted intervention, according to the article published in Haykakan Zhamanak (The Armenian Times) newspaper.
The volume of deals was big –nearly $16 million which exceeded average volume of daily deals proceeded over the recent times.
This is what makes us believe the Central Bank conducted intervention in order to stave off sharp AMD devaluation.
This is because of a big demand for the currency noticed on the local market.
“And this, in turn, can be explained by two factors: either noticeable outflow of currency was detected or currency inflow, for some reasons, dropped,” the article said. —0-
