YEREVAN, 17 DECEMBER, ARMENPRESS. Chairman of the Central Bank of the Republic of Armenia Arthur Javadyan gave a press conference and presented the consequences of the Dram devaluation and the Central Bank’s future actions to regulate the situation. “ArmenPress” has set aside the following main messages of the CB chairman’s press conference:

1. Currently, the dollar is overvalued, while the Armenian Dram is too devalued.
2. The real price of the Armenian Dram will be announced after the causes of overvaluation are eliminated.
3. There is no problem with foreign currency in the banking system and, if necessary, the CB will be able to provide liquidity of the required amount.
4. The CB is keeping the situation under control and has all the opportunities to restrain inflation.
5. The banking system is stable, banks are solvent and may provide their services.
6. After 26 December, the Central Bank will exit the currency market, letting the Dram rate form in the market.
7. Nevertheless, the Central Bank will return to the stock exchange and will continue its transactions within NASDAQ OMX Armenia.