12:19, 6 March 2009

In Nagorno-Karabakh, panic on dram collapse calms down

After Nagorno-Karabakh leaders have spoken on local TV, the situation around the fall of the exchange rate of the national currency has calmed down a little: people stopped flapping about and crowds in shops have disappeared, as the "Caucasian Knot" correspondent reports from the region.

"I was paid my salary and I've decided to buy some extra food. Should foodstuffs grow in prices, this month I'll save several thousands drams," teacher Donara Alaverdyan shared her plans with the correspondent.

Zarifa Babayan, 50, said that three months ago she had pawned her gold in the bank, and on March 5 wanted to extend the mortgage. "But the bank refused saying that the dollar rises, and gold becomes cheaper. Therefore, I now have either to buy my gold back completely or just to forget about it. I've no idea what to do," the woman said.

Author: Naira Airumyan

Source: CK correspondent