Tue, 1 July
14.1 C
Yerevan
USD: 384.47 RUB: 4.90 EUR: 450.83 GEL: 141.25 GBP: 526.80

Armenian banks expect the dram to start losing its value against USD in September

YEREVAN , July 26, /ARKA/. Armenian commercial banks  expect the national currency, the Dram, to start losing its value against USD and other hard currencies, in September, according to findings of a survey conducted among local banks, posted  on the  Central Bank’s official website.

According to the findings, the dram is expected to devaluate to 372.95  per one USD in September and to 376.76  by the end of the year. Currently the USD is trading at  366.33 Drams.

The majority of banks  do not expect  the interest rates on deposits to change, however, the number of banks predicting that the interest rates on deposits in foreign exchange will go down  is twice bigger ( 7 banks)  than the number of banks  predicting the same regarding deposits in Drams. According to the bulk of banks, the interest rates on loans will not change either. –0-

spot_img

POPULAR

US dollar exchange rate unchanged, euro and ruble rise

The average market exchange rate of the U.S. dollar to the Armenian dram on March 7, 2025, remained at 394.58 drams, unchanged compared to March 6.

Armenia to receive EUR 26 million loan from KfW bank for renewable energy development

Armenia will receive a loan and a grant from the German KfW bank for the implementation of the "Renewable Energy and Energy Efficiency Development" program.

Ratio of loans to deposits in commercial banks of Armenia has improved – WB review

In April 2025, deposits and loans of commercial banks of Armenia increased by 1.5% y/y and 0.8% y/y, respectively, slightly improving the ratio of loans to deposits compared to the figures for the previous year.

Euro falls by 0.62 points to 450.23 drams

The average market exchange rate of the US dollar against the Armenian dram as of June 27, 2025, decreased by 0.59 points compared to June 26 and amounted to 384.32 drams.

Armenia’s budget remained in surplus through April, despite a projected deficit

Armenia’s budget remained in surplus through April, despite a projected deficit, according to World Bank's Armenia Monthly Economic Update – June 2025.

LATEST NEWS

spot_imgspot_imgspot_img