All Financial Transactions to Use Armenian Currency, Says RA State Revenue Committee

The State Revenue Committee of the Republic of Armenia states that according to the “RA Law about Currency Regulation and Currency Control,” any transactions in the country, such as quotations, trade, delivery of service, salary payment must be conducted exclusively using Armenia’s national currency, the dram.

When the law is violated the first time, according to the “RA Law about Administrative Legal Violations,” a 2 million AMD fine will be imposed on the violator. Should the violation be repeated for a second time within the same year, then the fine will be doubled to 4 million AMD.

RA State Revenue Committee urges Armenian entrepreneurs to respect the Armenian national monetary unit, to observe the law, and evade transactions with foreign currencies to avoid fines and save money.