Armenian CB keeps smoothing AMD revaluation

ArmInfo's experts say that AMD revaluation might be even more significant were it not for the CB's smooth-out policy. In the last 10 days alone the CB has bought almost $30mln: $8.5mln was bought last week at 373.61 AMD/1 USD with $22mln most probably purchased yesterday and today. Today, the amount of currency transactions at stock exchange totalled $19.1mln (7.2bln AMD) with the exchange rate being 374.93 AMD/1 USD. Experts believe that the greater part of these transactions may have been carried out by the CB.

Meanwhile, the press service of the CB has commented on the situation on the market. The first vice chairman of the bank Vache Gabriyelyan said that, despite different rumors, the CB buys currency only when there is a need for smoothing out currency rate fluctuations. For the moment, there is such a need. In Nov the CB smoothed AMD devaluation, presently, it is smoothing AMD revaluation.