Former chairman of the Central Bank of Armenia Bagrat Asatryan said that nothing extraordinary is taking place in Armenia’s currency market.

“It was obvious that the CBA’s control will result in AMD revaluation, thus securing demand for the national currency and, consequently, AMD strengthening,” Asatryan told a press conference in Yerevan on June 4.

“In my opinion, these mechanisms should have worked and AMD revaluation should have continued until the beginning of May. Meanwhile, the increase in the national currency exchange rate in late May and early June is unexplainable,” he said, adding that there are many unexplainable phenomena in Armenia’s economy, which are beyond the economic logic.