Mid-Market Rate Of Armenian Dram To Us Dollar Is 364.3 For $1 On February 7, 2011

The international rating agency S&P Global Ratings affirmed the long- and short-term sovereign ratings of the Republic of Armenia at 'BB-/B', maintaining a positive outlook, the Ministry of Finance reported.

Individuals in Armenia will be able to receive free electronic statements from commercial banks about their bank accounts, their balances, and the presence or absence of mutual obligations with the bank.

Key developments in Armenia's financial market this week included new banking compliance requirements, measures against account fraud, and decisions related to capital market development.

YEREVAN, August 20. /ARKA/. Shares of the biotech company Moderna soared 123.6% at the start of trading in the US on August 19, reaching a peak of $140.77, according to trading data. Shares of the pharmaceutical company Merck also rose 11.6% to $150.85, according to Forbes.ru.

Armenia's banking sector remains well capitalized and highly profitable, supported by high net interest income and robust economic growth, according to a report from international rating agency S&P Global Ratings.