04 March 2009, 16:00
In Nagorno-Karabakh, foodstuff prices jump up
The decision of the Central Bank of Armenia to give up the policy of the fixed exchange rate of the dram has led to the fall of the dram rate against dollar also in Nagorno-Karabakh, where the dram is also the national currency. Essential foodstuffs have disappeared from groceries, and those on sale are now some 20-25 percent more expensive. US dollars are in deficit in banks and exchange booths.
Although the preparation for transfer into the "floating" exchange rate was felt within the latest 15 days, the financial situation has become a surprise for the major population of Karabakh.
"I, certainly, understood that the rate could be set free but hoped that it would be made gradually so that people could not suffer," a soldier named Samvel Avanesyan said in his interview to the "Caucasian Knot" correspondent.
Right after the announcement of the "release" of the dram exchange rate, goods in shops became more expensive, and people rushed into panic - they buy out all the essential foodstuffs. Many shops are closed trying to live the panic over and replace price tags.
Ara Arutyunyan, Prime Minister of Karabakh, has explained that the dollar exchange rate predictably went up by 15-20 percent, and the corresponding price growth can be observed only in the line of some imported goods.
Author: Naira Airumyan Source: CK correspondent
