According to the president of the Central Bank Tigran Sargsyan, as long as the dram continues to be evaluated, the bank will receive no profit. That is explained by the fact that the bonds given by the Central Bank are in drams and the assets are in foreign currency. The bank’s capital, which is summed up by finding the difference of the assets and bonds, is reduced by itself when the foreign currency is evaluated. In order to close this crack in the capital, the Central Bank will be distributing bonds in 2006.
