HAYKAKAN ZHAMANAK: BUSINESSMEN PAWN REAL ESTATE, TAKE MONEY OUT OF THE COUNTRY
TERT.AM
09:32 ~U 15.03.13
The paper says interesting developments are taking place in the
country’s financial market. Citing its sources close to banks, the
paper says money flow from Armenia has started affecting banks.
The paper says cases when businessmen are pawning real estate and
transferring the received money outside of Armenia. The paper says
the tendency of Armenia’s dram’s noticeable devaluation recently is
agreed with the reduction of currency volume in the country.
The paper says the reason of such behavior of businessmen is
incomprehensible. As to the dram exchange, yesterday $1 cost 414 drams
in the stock exchange which is a bit less from the day before. Judging
from the volume of deals [more than 6 million US dollars] it may be
claimed that dram’s devaluation has again been prevented by Armenia’s
Central Bank’s currency intervention.
Last week the CB has filled the market with more than $21 million
cash not to allow dram’s collapse.