The Central Bank of Armenia has been containing the AMD to US dollar exchange rate at lower-than-psychological level of AMD 400 to 1 US dollar, Armenbrok investment company CEO said.

As Aram Kayfajyan told PanARMENIAN.Net, the indicated level would have been overcome back in April, were it not for monetary interventions conditioned by election-related political expectations.

“As soon as it became clear that May 6 parliamentary poll won’t lead to major clashes or discontent, CBA gave the market a free rein to form USD/AMD prices,” the expert said.

“The rise in exchange rate is explained by growing demand: the AMD to USD exchange rate might even have crossed the threshold of AMD 405 to USD 1, were it not for USD 20 million investment,” the expert concluded.

Deals amounting to AMD 20 mln. at an average rate of AMD 401,95/USD1 were concluded at NASDAQ OMX Armenia on May 22. The closing price totaled AMD 401,26.

The market average rate of USD totaled AMD 401,07 on May 22, increasing by 2.28 point compared to May 21.