TIGRAN SARGSYAN: CB NEW POLICY JUSTIFIED
PanARMENIAN.Net
04.03.2009 22:16 GMT+04:00
/PanARMENIAN.Net/ New CBA policy is justified and creates favorable
conditions both for importers and exporters, RA Prime Minister Tigran
Sargsyan stated in his TV announcement. According to him, there are
many who insist on the necessity of phased introduction of floating
exchange rate policy, i.e. gradual reduction of national currency
exchange rate, yet this might bring many negative consequences,
specifically market participants’ negative expectations, that would
result in speculation and significant exchange rate fluctuations. CBA
established national currency fluctuations limit, which clears up the
situation for all market participants and allows to avoid unnecessary
disturbance, RA Prime Minister concluded.