Artur Javadyan: Central Bank of Armenia sent about $ 140 million to support the national currency in 2019

ArmInfo. The Central Bank of Armenia in 2019 to support the national currency - the dram allocated about $ 140 million. Governor of the Central Bank of Armenia Artur Javadyan said this from the rostrum of the Armenian parliament on June 19.

"The intervention of the Central Bank did not allow the national currency to strengthen strongly against the US dollar, which could adversely affect Armenian exporters. Moreover, the tendency towards the strengthening of the national currency began to manifest itself in April, the reason for which was a sharp increase in tourism, remittances of individuals, and other factors "- A. Javadyan said.

Earlier, on June 5 during the parliamentary hearings, Arthur Javadyan noted that the unexpectedly high dollar supply in the Armenian foreign exchange market is of concern. According to him, according to logic, a certain pressure should be observed in the foreign exchange market, but the opposite situation develops, in which the currency supply exceeds demand.

Arthur Javadyan emphasized that in five months of this year. The Central Bank itself has acquired about $ 90 million, while the supply volume that has increased in the spring period remains at the same level. "This means that there are phenomena that require in-depth study," admitted the head of the Central Bank.  Nevertheless, the Governor of the CBA noted that part of this phenomenon may be due to an increase in the volume of transfers, as well as the lack of customs borders in the EAEU. In addition, he expressed confidence that the volume of unregistered transfers has increased, because in order to avoid commissions in banks, people bring money in cash.

Artur Javadyan expressed readiness to discuss this issue next week, but in a closed format.