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Armenia: Falling Currency Leads to Run on Stores

By THE ASSOCIATED PRESS
Published: March 3, 2009
http://www.nytimes.com/2009/03/04/world/europe/04briefs-FALLINGCURRE_BRF.html?_r=2&partner=rss&emc=rss

Armenians rushed to buy bread, butter and other staples on Tuesday and stores shut down in panic after the government announced it would let the currency fall and was seeking a bailout from the International Monetary Fund. Banking authorities said the national currency, the dram, could lose a quarter of its value, and prices for imported goods were expected to rise sharply.

 

 

 

 

 

 
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