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Central Bank explains sharp devaluation of Armenian currency
The adjustment of the Armenian currency rate is determined by the recent developments at the regional and international financial markets and promotes export competitiveness, economic growth, creation and maintenance of sustainable workplaces, says the Central Bank of Armenia. The CB has consulted with all participants of the financial markets and finds that the current exchange rate fully reflects the aforesaid developments and is in the range of stabilization. The Bank’s reserves are enough to prevent all kinds of artificial fluctuations of exchange rate and ensure financial stability., the CB said.
