YEREVAN. – The Central Bank of Armenia (CBA) does not want for the national currency—the dram—to gain strength and it tries not to let this happen.  

CBA Chairman Arthur Javadyan stated the abovementioned during Monday’s National Assembly discussions devoted to the 2014 State Budget. 

Javadyan informed that, to prevent the strengthening of the dram, so far this year the CBA purchased a net amount of $40 million in the financial market.

“We are not selling [US] dollar for a long time,” the CBA chief announced adding that the American currency purchased in the market is used for filling the international reserves.

Arthur Javadyan noted that they intervene in the exchange rate solely in case of sharp fluctuations, and the Central Bank of Armenia will maintain this policy in the future, too.