V. Aivazyan: Prices are going up, everything is possible

Armenian parliamentary deputy from the Republican Party of Armenia (HHK), chairman of the standing committee on economic affairs Vardan Aivazyan told reporters today when commenting on fluctuations of the dollar/dram exchange rate  that Chairman of the Central Bank of Armenia Arthur Javadyan, Chairman of the State Commission for the Protection of Economic Competition (SCPEC) Artak Shaboyan, and government members are present at the special sitting of the parliament to settle that problem.

“We will hold discussions to understand what processes are taking place and what ways out of the current situation can be found,” he said.
In response to the remark that while discussions are underway, the banks started to sell the dollar for 580 drams, Aivazyan replied: “Not for 580 drams, but at a higher price”.

“Everything is possible as a result of those processes. As regards money transfers, there are no restrictions for citizens who have a bank account. However, there is panic in the currency market,” the deputy said.

Aivazyan stressed that regardless of fluctuations, the dollar will depreciate, but he found it difficult to say when it will happen. “It is necessary to understand what instruments we should use. I cannot speak based on assumptions, but the dollar rate will undoubtedly decline,’ he said adding that such questions should be addressed to CBA chairman Arthur Javadyan.

When asked who is responsible for the current situation, the HHK deputy said CBA bears responsibility for the financial part of the market, but the responsibility for regulation of the market lies with other bodies.

“Not only CBA, but also SCPEC and other relevant bodies of the Armenian government bear responsibility,” he noted.

Asked why appropriate measures have not been taken so far, Aivazyan said: “You asked a difficult question”.

Speaking about the closure of shops, he considered it a natural process as all the prices are going up today and everything is possible.