Armenian Central Bank to prevent devaluation of national currency

The Central Bank of Armenia is taking measures to prevent the devaluation of the national currency, dram, Aykakan Zhamanak reports.

The currency rate yesterday was $1 = 367.75 drams. The average currency rate is $1 = 368.28 drams. The reason for the currency rate change may be explained with the Central Bank’s currency intervention equal to over $7 million.

The Central Bank expects the situation to improve in the second half of March, when tourists start arriving from Iran to celebrate Nowruz.