YEREVAN, December 11. / ARKA /. Armenia’s Central Bank said today its Department of Financial Supervision began December 9 inspecting currency exchange offices and their branches to find out whether they comply with the law and will do so until the end of the year.
It said the list of currency exchange offices to be inspected can be found on its official website.
Earlier, Central Bank chairman Artur Javadyan said the regulator will take stringent measures against participants of the financial market engaged in speculative currency trading. He said the regulator launched investigation into several cases of possible speculative trading against the background of foreign exchange fluctuations in the market.
The dram began losing its value against US Dollar in October. The depreciation accelerated in late November and continued into December. Today the US dollar has been trading at 459, 09 drams.-0-
