Wed, 11 June
22.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Armenian central bank applies sanctions against some currency exchnage offices

YEREVAN, June 21. /ARKA/. The Central Bank of Armenia said today it has applied sanctions against several currency exchange offices for anti-competitive behavior.

It specified that some of these exchange offices were warned against such behavior, some others were penalized and the operation of some others was suspended..

“Since October 5, 2021, there have been manifestations of anti-competitive agreement and abuse of exchange rates in the foreign exchange market of Armenia,” the regulator said in a statement.

The Central Bank said it found that a number of exchange offices, violating the requirements of the legislation, entered into an anti-competitive agreement on the establishment of unified wholesale exchange rates.

The exchange rates agreed between them were published on information platform rate.am, which affected the behavior of other exchange offices.

The exchange rate of the dram has strengthened about 25% against USD and Euro over the last several months. -0-

spot_img

POPULAR

Euro and ruble exchange rates to the Armenian dram fell, the dollar rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 6, 2025, increased by 0.06 points compared to June 5 and amounted to 383.46 drams.

Mechanism to stimulate cashless payments to be developed in Armenia

On Friday, the Armenian government held a meeting on issues related to stimulating cashless payments in the country.

Dollar and euro exchange rates to the Armenian dram fell again, while the ruble rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 4, 2025, fell again by 0.1 points compared to June 3 and amounted to 383.76 drams.

AMX introduces remote membership model, opening doors to international investors

The Armenia Securities Exchange (AMX) and the Central Depository have introduced a Remote Membership model, which is aimed at providing access to foreign investors to the Armenia Securities Exchange, the press service of the exchange reported.

Average settlement exchange rate of dram to dollar in May was 0.3% lower than a year ago

In May 2025, the average settlement exchange rate of the Armenian dram to the US dollar was 386.6 drams, which is 0.3% lower than the same indicator in May 2024 (387.8 drams).

LATEST NEWS

spot_imgspot_imgspot_img