Sergey Group to suspend petrol import in Armenia for indefinite periodMarch 3, 2009 - 14:51 AMT PanARMENIAN.Net - The upsurge of dram-to-dollar exchange rate will inevitably affect Armenian consumers, an entrepreneur said. "We will suspend import for an indefinite period. If the rate remains fixed at AMD380-400/$1 the price for fuel will rise. However, we will work to come to an agreement with our clients," Sergey Bagratyan, President of Sergey Group engaged in import of petrol and diesel fuel in the republic, told a PanARMENIAN.Net "The company is watching market developments. We do show flexibility in relations with clients but all depends on the exchange rate," he said. 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. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |