Cigarette importers take timeout, review prices

PanARMENIAN.Net - Armenian cigarette importer Avers suspended the trade today and closed the offices for stocktaking because of USD exchange rate upsurge, Avers accountant, Ms. Sara Sepanyan told PanARMENIAN.Net reporter today. ''We're all waiting for the development of events. Right now we are consulting together to determine the exact raise in product price. ''Even if prices grow, we'll do our best for them not to affect our consumer's finances too much.''



VIDIS Distribution, the financial adviser of Philippe Morris representation in Armenia, stated that no price changes have been effected. ''We could be condidering the possibilities of price change later,'' the company representative noted





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.