currency transactions', 'movement of capital' and 'financial currency transactions'. It determined the cases of implementing transactions in Armenian currency and foreign currency in the territory of Armenia. It further provided that all pecuniary quotations in the sale of property, rendering of services and works should be made in the Armenian Dram. The Law delineates the scope of the bodies performing currency control. The period 2002–2003 was momentous as a number of essential changes and innovations occurred in the banking legislation. On 29 May 2002, the Armenian Law on "On Credit Organizations" which gave the Central Bank authority to license and supervise the activities of credit institutions in Armenia. Statistics According to the article 5(g) of the Law on the Central Bank of RA the Central Bank of the Republic of Armenia (CBA), implements collection, compilation and publication of monetary and financial statistics in order to carry out its objectives. Particular tasks in this area include: Collection and compilation of accurate monetary and financial statistics; Provision of accurate, reliable and timely data to the public through statistical publications and website of the Central Bank. Since 2011 the responsibility for the compilation of the external sector statistics (balance of payments, international investment position and external debt) has been undertaken by the Central Bank of Armenia.To carry out its objectives according to the Law on Central Bank of RA, the Central Bank of Armenia, within the framework of the CBA Board Resolutions and the CBA Chairman Decrees, is engaged in the collection of other sectors' statistics (Real, External and Government Sectors) for its internal use. According to the Law of RA on State Statistics the National Statistical Service of RA (NSSA) is officially responsible body for statistics of these sectors of economy, the website of which is www.armstat.am. The Central Bank conducts statistical analyses in all four sectors of the economy (smoothing of time series, forecast and classification of economic indicators, calculation of various indices, etc.) and participates in developing the statistical methodology in accordance with international standards. In order to monitor and evaluate certain economic phenomena, the CBA conducts surveys, in particular to find out expectations of business entities on economic growth and inflation, disclose price-generation mechanisms at enterprises, measure banks' expectations on macroeconomic and financial indicators, evaluate foreign cash held by household, etc. The Central Bank releases the statistical data through the CBA homepage and the CBA following publications according to