YEREVAN. – The Central Bank (CB) of Armenia does not forecast exchange rates and does not control exchange rates in any way, CB Vice Chairman Nerses Yeritsyan stated Tuesday at the National Assembly. Earlier, opposition MP and former PM Hrant Bagratyan had enquired as to what exchange rate was placed at the basis of Armenia’s 2013 State Budget.   

“The budget is based on estimated exchange rates as of November 1. Certainly, the risks need to be assessed along these lines. That is our political approach; we do not forecast exchange rates. We have publicized thousands of analyses, we have substantiated, explained many times, but this matter is raised again,” Nerses Yeritsyan begrudged.