YEREVAN. – The Central Bank (CB) of Armenia on Tuesday conducted a US$20-million intervention in the country’s financial market, reported Haykakan Zhamanak daily.

“But if the CB was conducting the foreign currency interventions by way of the stock exchange in the past, now it acts in a different way. 

“Yesterday [i.e. Tuesday], all banks [in Armenia] together purchased 20 million dollars in the interbank market, but none of them sold this 20 million. (…). This cannot be called other than a half-secret intervention.

“Incidentally, according to our information, the CB is ready to conduct an up-to-50-million-dollar intervention in the coming days, to prevent the further devaluation of the [Armenian] dram,” wrote Haykakan Zhamanak.