Thursday, December 11 2014

VivaCell-MTS telecommunications operator is experiencing certain pressure because of the situation in the foreign exchange market of Armenia, Ralph Yirikian, General Manager of VivaCell-MTS CJSC, told ArmInfo.

At VivaCell-MTS they hope the ongoing depreciation of the national dram will not affect the company's activity seriously. 

"We hope the process of devaluation will not last long despite the difficulties in the market. I will bring you just an example: when we buy minutes abroad to resell them to our subscribers, we pay in terms of dollars and have to exchange the national currency. Yet a few months ago, there was one amount, today it is quite different. At the same time, we do not raise our tariffs. The tariffs are either left at the same level or reduced," Yirikian said. "We do not plan to increase the tariffs of international calls in the near future either. Quite the contrary, we seek to reduce the cost of our services to remain competitive in the market and offer attractive tariffs to our subscribers. Meanwhile, it is very difficult to guess what will be happening in the economy of Armenia and what consequences it will have. It is important to discuss and assess everything basing on economic forecasts before making any step. I do not think that hasty decisions to raise tariffs will settle the problem. It is necessary to look into the situation and the trends in the economy of Armenia," Yirikian said.  It is noteworthy that the exchange rate of the US dollar on 10 December totaled 457.31 drams, with a 2.23 drams growth versus December 9. EUR amounted to 566.65 drams (up 4.81 drams), GBP amounted to 716.65 drams (up 4.81 drams), and RUR - 8.42 drams (up 0,02 drams). Precious metal prices were as follows: silver - 240.69 drams, 18,040.4 drams, platinum - 18.290.35 drams. Purchase-and-sale operations at NASDAQ OMX Armenia on 10 December totaled $100,000 at the average exchange rate of 461 drams/$1USD. The closing price was 461 drams.

VivaCell-MTS (K-Telecom CJSC) is Armenia's leading mobile operator, having the widest 2G/3.75G/4G network reach and spreading a wide range of Voice and Data services all across Armenia. Having the best of the Armenian people interest at heart since its launch on 1st July 2005 and in a short period of time VivaCell-MTS has managed to build a nationwide network and a considerable customer base.  VivaCell-MTS drives innovation and aims at always being at the forefront of any development serving the Armenian mobile communications market.  The company follows the guidance provided by ISO 26000 (International Standard of Social Responsibility).  OJSC Mobile Telesystems holds an 80pct stake in VivaCell-MTS CJSC, with the remaining 20pct belonging to Fattouch Group. Lebanon.  (The exchange rate for  10 Dec 2013 - 457.31 ASMD/$1USD).