A total of U.S. $18.5m were sold at NASDAQ OMX Armenia, the average weighted exchange rate being 377.5 AMD/U.S. $1. The closing rate was 377.4 AMD/U.S. $1.

The Public Relations Department, Central Bank of Armenia (CBA), reported that since last September the CBA has sold a total of U.S. 200m from its reserves to keep the exchange rate stable. In 2009, the CBA reserves were replenished with the funds of the International Monetary Fund (IMF), U.S. $320m, with U.S. $200m of them sold for the fixed-rate policy to be implemented. Although the CBA claims it to be a means of preventing exchange-rate fluctuations, over recent months, expect for a few days just before the New Year, the CBA has only been selling U.S. dollars.

P.T.