Armenian central bank law to strengthen dram

A central bank of Armenia law enacted on 28 June on hard currency regulation and hard currency supervision, seeks to strengthen the position and significance of Armenia's national currency, the dram.

Under the new law all prices for all types of goods and services must be fixed in Armenian dram. It also demands that commercial banks and lending organizations which have the right to carry out hard currency transactions fix the prices of their services for clientele exclusively in drams. The law

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