ArmInfo.The Central Bank of Armenia did not make interventions (since May 2020 - ed. note). Chairman of the Central Bank of Armenia Martin Galstyan stated this at a press conference on October 27.
"The main functions of the Central Bank are to ensure financial stability and price stability in the market, and we are interested in the currency only from the point of view of how much it is associated with these two phenomena," he stressed.
At the same time, M. Galstyan noted that at the moment the Central Bank does not find it expedient to intervene in the situation on the foreign exchange market. "Since the ongoing currency fluctuations, according to our estimates, are natural and do not require intervention," he explained.
To note, according to the Central Bank of Armenia, in January-August 2020, the Central Bank made interventions in the foreign exchange market for a total of $ 217.9 million, of which $ 90.9 million was bought (January-February and April) and $ 127 million sold (March-April), and during this period drams to dollar from January 479.09 AMD / $ 1 reached April 493.1 AMD / $ 1 (purchase / sale). And if in January- February interventions in the foreign exchange market were exclusively for buying, and in March - only for selling, then in April the Central Bank made operations both for buying and selling, and the volume of sales was almost 2-fold higher than the volume of purchases, which formed the course purchases at the level of 481.66 AMD / $ 1 and sales at the level of 504.45 AMD / $ 1. In May-August, the Central Bank did not perform operations in the foreign exchange market.