YEREVAN, December 4. /ARKA/. The reserves of the Armenian central bank are sufficient to prevent any artificial currency rate fluctuation and to ensure financial stability in the country, deputy head of the central bank Nerses Yeritsyan said at the government meeting on Thursday.
In response to the concern over the liquidity of the banking system, Yeritsyan said the cash and non-cash dollar liquidity is very high, and the banks’ stability is secured with high capital levels.
The central bank said Armenia’s gross international reserves rose by 0.5% over the month to $1,671 million in October 2014.
Dollar versus Armenian dram rate hit the eight-year high, having jumped by 16.6 points to 435 drams per $1 in the period from November 21 to November 24. The rate was up at 422.33 drams per $1 on December 2. –0–
