YEREVAN. - Central Bank of Armenia (CBA) continues policy of floating exchange rate, said CBA chairman Artur Javadyan.

According to him, in case of violent exchange rate fluctuations CBA would intervene no matter which way the exchange rate will fluctuate.

Asked why dollar exchange rate went down from AMD 373 to AMD 362 on Tuesday, Javadyan said only one transaction was made at a very low rate, which affected the average rate.

Earlier Armenian President Serzh Sargsyan said that Armenian national currency (AMD) revaluation is unfavorable for domestic producers.

Commenting on president’s remark, Javadyan said it referred to long-term period, while a number of reasons, such as growth of transfers can differently affect exchange rate in short-term period.