YEREVAN. – The chairman of Armenia's Central Bank believes that US dollar is overvalued in Armenia.
The main reasons for this are panic and speculations by some individuals, Artur Javadyan told reporters on Wednesday.
The real exchange rate of the Armenian dram, according to Javadyan, will be known after the reasons for revaluation disappear. Most likely the Armenian dram rate will noticeably increase.
The head of the Central Bank once again warned that speculative currency exchange may lead to significant financial losses.
“We are once again urging to be reasonable and to resist the temptation to cash in on the difference in rates,” he concluded.
