YEREVAN, 17 DECEMBER, ARMENPRESS. Armenia’s foreign-exchange reserves are enough to ensure the country’s import cover for 3.5 months. This is what Chairman of the Central Bank of the Republic of Armenia Arthur Javadyan announced during a press conference, assuring that with that indicator Armenia is even ahead of Georgia. “Armenia’s current foreign-exchange reserves can ensure the country’s import cover for 3.5 months, while Georgia’s reserves are enough for less than 3 months. This means that Armenia doesn’t have any problem with foreign exchange. Banks also have enough foreign exchange in their accounts. At least for this moment, they have more than USD 300 million in the accounts of the Central Bank and nearly that much in the correspondent accounts. It’s only expressed in Dollars, but they also have Euros, Rubles, as well as other currencies,” Javadyan said, according to “ArmenPress”.

The Chairman of the Central Bank also assured that in case of reduction in liquidity, banks can receive additional amount in liquidity from international organizations. “If, at some point, citizens of Armenia decide to substitute their deposits in Armenian Dram with dollars, we have even thought of the worst- case scenarios. Even in that case, there won’t be a problem with the exchange rates. The Central Bank hasn’t set and won’t set any restrictions on banks for deposits and for personal accounts,” Arthur Javadyan announced. He emphasized that banks carrying out speculative operations will be punished and advised everyone to appeal to the corresponding authorities if they notice such behavior.