YEREVAN. – As of July 2012, Armenia’s Central Bank (CB) resumed the purchase of American dollar in the financial market. It bought $11.8 million in July and $7.1 million in August, CB’s August bulletin informs.  

The bank purchased the US dollar in September, too, thereby not allowing the Armenian national currency, the dram, to gain too much value. 

But in the remaining months of 2012, CB solely sold the dollar and this totaled approximately $151 million.

To note, Armenia’s Central Bank had purchased $39.25 million and sold close to $137 million in 2011, and bought $122.7 million and sold $ 190.7 million in 2010.

The American currency’s trading in the financial market aims to reduce the drastic short-term fluctuations in the exchange rate.