Yesterday in NASDAQ OEMEX stock exchange 12.86 million dollars was sold, due to which the opening rate of US dollar went down from 408 and closed at 406.75 drams. In the end of the day the price of dollar was high by 1.22 and the closing rate was 407.22. There were no significant changes in the retail market of dollar in cash buying exchange offices. Exchange offices were buying dollar at 404-405 and selling at 409-410 drams. The situation was again stabilized by the intervention of the Central Bank. During our phone conversation with the Central Bank president Artur Javadyan he confirmed the fact that from time to time the Central Bank makes interventions in the financial market of foreign currencies. Concerning the recent fluctuation and rapid changes of the exchange rates Javadyan said that those were a result of the policy of floating rates, which had been adopted by the Central Bank and they being loyal to it. The CB president says that the exchange rates may be subject to change under the influence of both external and internal factors. However, the CB president refused to comment and say what the factors resulting in the recent rapid changes of the dollar rate were and said that he did not have such powers to comment on that issue. Javadyan said that the CB had intervened to make the situation stabile but did not say how much money they had thrown into the market to let it happen. Two days before that there was a huge transaction worth of 20 million dollars in the NASDAQ OEMEX. A. Javadyan said that a part of that amount had been provided by the CB, but did not say how much specifically. According to the CB president, the interventions during this year have been reaching dozens of millions. The CB president did not say whether he thought the price of dollar would grow or no.
