{"id":251110,"date":"2023-10-04T11:56:36","date_gmt":"2023-10-04T11:56:36","guid":{"rendered":"https:\/\/armbanks.am\/2023\/10\/04\/251110\/"},"modified":"2023-10-04T11:56:36","modified_gmt":"2023-10-04T11:56:36","slug":"central-bank-of-armenia-to-intervene-in-the-currency-market-in-case-of-serious-failure","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2023\/10\/04\/251110\/","title":{"rendered":"Central Bank\u00a0of Armenia\u00a0to intervene in the currency market in case of serious failure"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>YEREVAN, October 4. \/ARKA\/.<\/strong> After setting the floating exchange rate regime the Central Bank of Armenia has not been targeting\u00a0\u00a0any level of the exchange rate, monitoring instead the situation in the currency market on a daily basis being ready in case of a serious failure to\u00a0\u00a0intervene with its tools, the regulator&#8217;s press service told ARKA news agency in response to a question about the causes of the exchange rate behavior in the last two weeks and how it may affect the Armenian market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Armenia has a floating exchange rate regime. Changes in the exchange rate are conditioned by changes in supply and demand in the market,&#8221; the Central Bank said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since September 19, when Azerbaijan attacked Nagorno-Karabakh, the Armenian dram has been losing value against USD. On October 2, the US dollar surged by almost 9 drams to 400 drams and grew further the following days to 413.45 drams. Today the USD is trading from 435-450 drams<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the website of the regulator, on October 3 the volume of purchases in the currency market exceeded 19 billion drams. The exchange rate of US dollar was&nbsp;&nbsp;407.56 dram , that of the euro &#8211; 425.37 drams, and that of the Russian ruble &#8211; 4.13 drams, while the volume of sales amounted to 31.2 billion drams at the exchange rate of&nbsp;&nbsp;419.33 drams,&nbsp;&nbsp;442.53 drams and 4.30 drams respectively.-0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After setting the floating exchange rate regime the Central Bank of Armenia has not been targeting\u00a0\u00a0any level of the exchange rate, monitoring instead the situation in the currency market on a daily basis being ready in case of a serious failure to\u00a0\u00a0intervene with its tools<\/p>\n","protected":false},"author":1,"featured_media":157156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12159,9216],"tags":[],"class_list":["post-251110","post","type-post","status-publish","format-standard","has-post-thumbnail","category-exchange-market","category-news"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.8 - 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