Armenian dram downfall not to influence imported spirits price

March 3, 2009 - 14:29 AMT
PanARMENIAN.Net - Agena company, which imports spirits to Armenia, will not inflate prices for its products despite dollar exchange rate increase.



"We will do our best to protect our consumers from negative consequences of dollar upsurge," a company representative told PanARMENIAN.Net



Agena imports BAILEYS, JOHNNIE WALKER, DIAGEO, SMIRNOFF and SHERIDAN'S brands in Armenia.



The dram-to-dollar exchange rate has gone up to AMD 360/$1 in few hours today against yesterday's 305 -310 index for sale and purchase respectively.



Dram/euro exchange rate reached AMD 440 (against 387).



The upsurge followed CB President Arthur Javadian's statement on cessation of control over the foreign currency market and return to floating rate policy.



According to the Central Bank, the dollar exchange rate will fluctuate from AMD 360 to 380 in 2009.
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