Chairman of the RA Central Bank Arthur Javadyan issued a statement which says:
Currently the dollar is overvalued, that is, it costs more than the cost under normal conditions.
Main causes of it overvalue are the situation of panic and implementation of speculative activities by some economic subjects.
The real price of the Armenian Dram will be known after elimination of causes of over depreciation. Currently the AMD over depreciated and after elimination of speculative and unnecessary panic situation the currency will be significantly recovered in value.
The Central Bank warns the citizens to refrain from unnecessary conversions during the time of stabilization of the exchange rate as it can bring to significant losses…
The complete statement is available here.
