YEREVAN, February 7. /ARKA/. At present, dollarization level in Armenia is 66-67% instead of 70-71% in 2010, said the Head of Monetary-Credit Policy Department of CB Armenia Artur Stepanyan.
“There was a period when this indicator reached 74-75%. It is expected to reduce this indicator to 60% ”, said Stepanyan in the press-conference on Monday.
In the frames of the measures targeted at dollarization, CB Armenia made changes and amendments in the regulation №2 “Regulation of banking activity and main economic normatives of banking activity”, particularly in the normative of mandatory reserving on February 1.
In this phase it is defined that from minimum size of mandatory reserves placed by CB Armenia for the involvement of commercial means in currency (12%), 9% should be reserved in drams (instead of former 6%) and 3%- in relevant foreign currency instead of former 6%. –0–
