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YEREVAN. – The Government of Armenia was able to keep watch over monopoly, Diaspora-Armenian businessman Vahakn Hovnanian said during a press conference on Tuesday.

In his words, owing to the Government’s control, price speculation is not noticed in the market, even in the case of the Armenian dram’s sharp devaluation.   

As per Vahakn Hovnanian, the latest fluctuations in the Armenian national currency’s exchange rate are solely due to the problems in Europe and the US, and he noted that the US Government likewise is concerned over the dollar’s gaining value, because the American businesses are suffering losses abroad.


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