News
Show news feed

YEREVAN. – Embarking of the Central Bank of Russia to a floating exchange rate of ruble, active from 2015, may prompt the development of currency hedging in Armenia, Ms. Teresa Daban Sanchez, Resident Representative of the IMF to Armenia, told Armenia News-NEWS.am.

The Central Bank of Russia will cease routine interventions, limiting itself only to leveling excessive volatilities, which will make currency market trickier for exporters to Russia from Armenia and other countries, particularly if they conclude transactions in rubles.

“Of course, the drop of Armenian currency dram rate can make up for those risks for exporters at this time. But there are more sustainable mechanisms around, including the hedging of currency fluctuations,” Daban Sanchez told. 

Exporters may approach banks and other financial institutions with demand for those new and less developed services. Probably some of them will take over the task.

 

 

 

!
This text available in   Հայերեն and Русский
Print
Read more:
All
Photos