Armenia’s Central Bank Injected More than $300 Million into Market to Save Dram: Paper

The Armenian dram continues to depreciate, and the Central Bank of the Republic of Armenia continues to intervene with the aim of preventing the depreciation of the dram, reports local daily Haykakan Zhamanak. The dollar was worth 415.15 AMD yesterday, as compared to 414.80 AMD last week.

"Judging by the volume of transactions (more than $8 million), it can be argued that this is the Central Bank's injected cash currency. Since early February this year, the Central Bank has thrown already more than $100 million into the market — to prevent the depreciation of the dram," reports the paper.