YEREVAN, December 15. / ARKA /. Armenia’s Central Bank has sold today $4 million to local commercial banks, by $2 million less it had been selling to them last week, at the average weighted exchange rate of 494.46 drams per one US Dollar.
Armenia’s Central bank began selling fixed amount of hard currency to local banks through auctions from December 8. The regulator said it will be doing so until the end of the year in order to stabilize the local financial market.
The regulator said also daily currency sales would be gradually lowered in the following weeks.
Armenia’s national currency, the dram, has plunged deeper today to 471.78 drams per one US dollar, the Central Bank reported, saying also that the greenback’s value against the dram has risen by 8.97 points from December 12.
It said the exchange rate of euro against the dram has also jumped by 10.91 points to 585.95 drams.-0-
