YEREVAN, December 11, /ARKA/. The Central Bank of Armenia said today it has sold $6 million at the local forex market at the weighted average exchange rate of 464.07 drams per one USD.
The Central Bank said earlier 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.
It said the shift to this new policy was prompted by the need to stabilize the situation in the financial market. Today’s average exchange rate of a USD has grown to 459.09 drams.
