Time in Yerevan: 11:07:36,   17 August

Depreciation of national currency not expected, Armenia’s cenbank dismisses rumors as ‘disinformation’

YEREVAN, DECEMBER 18, ARMENPRESS. A depreciation of dram is not expected in Armenia and the rumors on a possible depreciation are groundless, Central Bank Board Member Artur Stepanayan said at a news conference, commenting on rumors that the national currency will depreciate after New Year.

“This is disinformation. We don’t expert neither a default nor a depreciation,” he said, adding that the currency markets are calm.

As an evidence to support the dismissal, cenbbank financial system stability and development head Andranik Grigoryan pointed out growth in dram deposits and decrease in dollar deposits. “People have begun to trust dram more,” he said, adding that both national currency and foreign currency deposits have increased, but dram deposits are more

Growth in capital is also more than last year, he said.

Edited and translated by Stepan Kocharyan

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