Yesterday no foreign currency transactions were implemented in NASDAQ OEMEX stock exchange of Armenia. The reason was the fact that US dollar was being offered at a very high rate – 404 drams for one dollar. Several trade banks were willing to buy US dollar for 403 drams, but no one was willing to sell dollar at that price. In the market of cash trade of currency exchange offices were buying dollar at 402.5 and selling at 404 drams. The funniest thing is that yesterday the Central Bank published a report, which states that the permitted limit of inflation would not exceed 5.5%. However, it is hard to believe in these promises also in consideration of the expected growth of prices on imported products.
