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YEREVAN. – The shock that occurred in Armenia on Wednesday will not happen again in the future, Prime Minister Hovik Abrahamyan told reporters on Thursday.

“The [US] dollar was overvalued, [and] the [Armenian] dram [AMD] was devalued yesterday [, Wednesday]. But, now, it seems it will find its place.

“This is a result of regional developments; we [, Armenia,] have no domestic economic problems, [and] our banks have the financial resources.

“I’m convinced that no one will suffer a loss in any matter. We are confident that there will not be any shock in the future as it happened yesterday,” the PM stated, in particular.

The most recent tension in Armenia’s financial market, and against the backdrop of the depreciation of the Armenian national currency, the dram, reached its peak in the country on Wednesday. Numerous stores were closed on that day, and those that were open were either not selling everything or selling at 30-40 percent more expensive, since the businesses could not decide on the prices. In addition, the American dollar’s exchange rate against the dram even exceeded AMD 600/$1 at some exchange offices in Armenia.

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