YEREVAN, December 10. / ARKA /. Nasdaq OMX Armenia stock exchange has resumed today trading sessions after a ten-day halt caused by a dramatic fall in the exchange rate of Armenia’s national currency, the dram.
The US dollar traded today at the exchange at 461 drams, a 5.1 percent rise from December 1. Nasdaq OMX Armenia told ARKA that one transaction worth $100,000 (the equivalent of 46.1 million drams) was effected today and no transactions with euros were made.
In the last two days NASDAQ OMX Armenia did not publish information on currency trading on its official website. The latest transaction with foreign currency was registered on December 1, when the US dollar traded at 438.62 drams.
Central Bank chairman Artur Javadyan said on December 9 that the stock exchange had to halt trading because of local banks’ fears of possible risks. He said the banks will return to the stock market after their fears diminish. He also said the Central Bank would return to the stock exchange after the situation in the financial market stabilizes.
The Central Bank also said on Monday that it will be selling $6 million to local commercial banks daily until the end of this week and publicize information about these transactions. The regulator said also daily currency sales will be gradually lowered in the following weeks.
Today’s average exchange of a USD was 457.31 drams, the euro traded on average at 566.65 drams. -0-
