YEREVAN, December 12. / ARKA /. The Central Bank of Armenia sold today $6 million at the local forex market at the average weighted exchange rate of 470.22 drams per one US Dollar.
The Central Bank 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. It said the shift to this new policy was prompted by the need to stabilize the situation in the financial market.
The average market value of the Armenian national currency, the dram, has plunged further today by 3.72 percentage points to 462.81 per one US Dollar, according to the Central Bank. The euro was trading today at 575.04 drams, a 4.71 percentage points higher form yesterday.-0-
