{"id":17260,"date":"2010-11-23T06:35:34","date_gmt":"2010-11-23T06:35:34","guid":{"rendered":"https:\/\/armbanks.am\/2010\/11\/23\/231872\/"},"modified":"2024-12-15T12:49:02","modified_gmt":"2024-12-15T12:49:02","slug":"central-bank-injects-150-million-this-year-into-forex-market-to-curb-inflationary-pressures-former-cb-governor","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2010\/11\/23\/17260\/","title":{"rendered":"Central bank injects $150 million this year into Forex market to curb inflationary pressures: former CB governor"},"content":{"rendered":"<p><strong>YEREVAN, November 23, \/ARKA\/.<\/strong> A former governor of Armenia\u2019s Central Bank, Bagrat Asatrian, criticized Monday the Central Bank for injecting $150 million this year into forex market in a bid to curb inflationary pressures, saying as a result the country\u2019s external reserves have slashed from $2 billion to $1.850 billion and the national currency, the Dram, has gained 10% over USD and Euro affecting the exports.<\/p>\n<p>Speaking to a news conference he said Armenia is showing the worst export growth rates among some other former Soviet republics making the Commonwealth of Independent States (CIS).<\/p>\n<p>According to the Central Bank data, the money base of Armenia in late September slashed by 0.1% or 618 million Drams as opposed to August to 438.4 billion Drams, while the money supply amount in late September rose by 0.8% or 6.7 billion Drams from August to 810.2 billion Drams.<\/p>\n<p>Last week the average weighted exchange rate of USD at NASDAQ OMX Armenia stock exchange dropped by 0.93% to 361.29 Drams.<\/p>\n<p>According to analysts, the drop was due to Central Bank\u2019s intervention which seeks to protect the Dram from a deeper fall. Experts from Forex Club say the USD will be trading next week at 362 \u2013 365 Drams. ($1 \u2013 361.05 Drams). -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A former governor of Armenia\u2019s Central Bank, Bagrat Asatrian, criticized Monday the Central Bank for injecting $150 million this year into forex market in a bid to curb inflationary pressures, saying as a result the country\u2019s external reserves have slashed from $2 billion to $1.850 billion and the national currency, the Dram, has gained 10% over USD and Euro affecting the exports.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,15418,15877,334],"class_list":{"0":"post-17260","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy-en","7":"category-news","8":"tag-armenia-2","9":"tag-bank-en-2","10":"tag-forex-2","11":"tag-334"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/17260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=17260"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/17260\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=17260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=17260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=17260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}