Haykakan Zhamanak: Armenian market flooded by cash dollars
10:14 * 06.12.14
A weekly report published by the Central Bank of Armenia reveals that
the domestic market is simply flooded with cash US Dollars, the paper
reports.
Citing the records unveiled Friday, the paper says the statistics
forecasts a pessimistic scenario. It notes that the banks turned out
to have purchased around $70 million and sold over $145 million – $40
million more compared to the same period of last year (with the Dollar
purchase amounting to $100 million and sale – to $107 million).
“A question arises as to who has bought so many Dollars given that
average customers could not have done so, at least in the past week.
And that means that there are privileged people in Armenia whom the
banks sell 40% more dollars with pleasure, offering, by the way, a low
price – 443 Drams (instead of 470-500). The Central Bank can
technically publish those privileged purchasers’ name one by one. For
considerations of trust, it can be offered to unveil the list if, of
course, it isn’t an umbrella for those privileged,” the paper
comments.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2014/12/07/armenian-market-flooded-by-cash-dollars/
