Yerevan, June 30, Armenpress: A Central-Bank developed law on Hard Currency Regulation and Hard Currency Supervision enacted on July 28, seeks to strengthen the position and significance of Armenia's national currency-dram.

Under the new law all prices for all types of goods and services must be fixed in Armenian dram. It also demands that commercial banks and lending organizations which have the right to carry out hard currency transactions fix the prices of their services for clientele exclusively in drams. The law extends to all physical and juridical persons, regardless of whether they are citizens of Armenia or not. Failure to observe the law will be punished by administrative sanctions and penalties.