YEREVAN, December 15. /ARKA/. The Armenian dram fell by 3.3% from December 8 to December 12, despite the central bank’s interventions worth $30 million.
As from December 8, the central bank is selling a preliminarily defined amount of foreign currency every day, all through auctions. Last week a daily limit of $6 million was sold to banks. The regulator’s interventions are said to continue till the end of the year. After that, the central bank will be reducing its interventions, stage by stage, to a zero level.
Dollar sale-purchase transactions amounted to only $100,000 in the stock exchange last week, as compared to $3.5 million on December 1-5. Dollar transactions were carried out NASDAQ OMX Armenia on Wednesday only, at an average weighted rate of 461 drams per $1.
Armenian dram hit an eight-year record high after November 24, having jumped by 16.6 points to 435drams per $1. The dram versus dollar rate is today 462.81 drams per $1.
Since the beginning of the year, the central bank has sold a total of about $236.47 million and bought $50.15 million in the forex market. –0–
