YEREVAN. – The Central Bank (CB) of Armenia on Friday raised the exchange rate of the American dollar by 6.15 Armenian drams, Zhoghovurd daily reported.

“As in previous days, the CB sold 6 million dollars through auction yesterday, [Friday,] too.

“Zhoghovurd has learned that the CB has prohibited the [country’s] exchange offices to raise the dollar’s exchange rate from the price it has set: 470 drams[/$1]. As a result, the currency exchange offices have stopped buying and selling dollars. As of yesterday, solely the banks [in Armenia] were buying and selling dollars. 

“It is difficult to tell how long this situation will continue. But it is apparent that the CB hopes to stabilize the [currency] exchange market by the end of the year, perhaps by dropping the dram’s exchange rate to the extent that it corresponds to the real current situation in the economy [of Armenia],” Zhoghovurd wrote.