Armenian Central Bank Deputy Governor Nerses Yeristyan says that the recent 10% devaluation of the Armenian Dram is short-lived and manageable.

Yeritsyan said this at a sitting of the NA Standing Committee on Financial-Credit and Budgetary Affairs, responding to a question posed by independent MP Sergey Bagratyan.

"The financial system is quite stable. Liquid and foreign exchange risks are balanced. The financial system is not in a position where its liabilities are not covered by foreign exchange liquid assets. Throughout the year, we have injected foreign currency' dram liquidity into the economy so that it can serve both the economy and the financial system," said Yeritsyan.

Bagratyan asked how much foreign exchange intervention the Central Bank had carried out.

"Since the beginning of the year, we have mainly purchased. We have made one or two foreign currency injections a week after the pandemic. The net sale, if I am not mistaken, was within 40 million, but they were episodic, there was no consistent or continuous sale or purchase,” Yeritsyan responded.