YEREVAN. – The Central Bank (CB) of Armenia has issued a statement.

“The developments that have occurred in the past several days in the international markets and in the region, including the large fluctuations in foreign exchange markets, have contributed to the formation of certain expectations and a growth in the exchange rate fluctuations in the domestic currency market.

“The CB estimates that these phenomena are short-term, and confirms its willingness to stabilize the market situation by way of all the tools at its disposal.

“At this time, the Central Bank calls to refrain from currency speculations and unnecessary conversions.

“The Central Bank assures that, given the short-term nature of these fluctuations and the sufficient level of [Armenia’s] foreign currency reserves, there are no significant risks in connection with price stability and financial stability [in the country],” the Central Bank statement specifically reads.