Armenian Central Bank expects five-percent reduction of bank deposits in foreign currencies in favor of dram deposits

YEREVAN, March 15. /ARKA/. The Central Bank of Armenia hopes that bank deposits in national currency will grow by five percent and those in foreign currencies reduce.

Vahe Vardanyan, chief of the central bank’s financial system policy division, said that loans in drams and in foreign currencies are equal, while ratio between liabilities in national and foreign currencies is 30% to 70%.

“We hope for a five-percent improvement for both loans and liabilities,” he said.

Things may change in favor to Armenian dram.

It means deposits in foreign currencies may shrink by five percentage points to 65%, narrowing the difference by 10%, and share of loans in foreign currencies may reduce to 45%.

Vardanyan also expressed hope that interest rates on deposits in foreign currencies will be lowered at least by two percentage points.

As a result, depositors will have option to keep their money in foreign currencies or drams.

The chief of the central bank thinks that banks will prefer rather to lower interest rates on deposits in foreign currencies than to raise interest on dram deposits.

At the same time, Vardanyan doesn’t deny that these speculations are quite approximate and doesn’t rule out that some banks may raise interest rates on dram deposits. —0—

spot_img

POPULAR

The “New Partner” loan is gaining popularity among VTB (Armenia) clients

VTB (Armenia) is seeing steady growth in demand for its small business loan product with a simplified application process—no collateral required, no additional financial analysis required.

ARKA news agency launches special project about its products and services to celebrate its 30th anniversary

To celebrate its 30th anniversary, ARKA News Agency has launched a new special project dedicated to its products and services.

Unibank will provide refunds to bona fide business clients

In light of the decision of the Central Bank of the Republic of Armenia dated April 2, 2026, to reduce risk coefficients for applications from micro, small, and medium-sized enterprises when calculating credit risk, Unibank is reviewing and improving its lending terms.

Armbanks Weekly Digest: Key Events in the Armenian Financial Market (April 20-26) 

The week in Armenia's financial market was marked by the publication of financial indicators for the banking sector, updated macroeconomic indicators, and signals regarding capital market development.

Euro slashes against  Armenian dram

As of April 23, 2026, the average exchange rate for the US dollar to the Armenian dram, established in the Armenian foreign exchange market, has fallen by 0.55 points from April 22, now standing at 371.83 drams.

LATEST NEWS

spot_imgspot_imgspot_img