Mon, 9 June
28.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Armenian Central Bank increased refunding rate to 7.75%

YEREVAN, February 8. /ARKA/. On Tuesday, CB Armenia Board decided to increase refunding rate by 0.5 percent points to 7.75%.

During 2010 refunding rate was increased five times reaching 5.0 to 7.25% (on January 21, February 16, March 9 and April 13 each time by 0.5 and on May 11 – by 0.25%). On January 11, 2011 CB Armenia Board decided to leave refunding rate in the amount 7.25% unchanged.

In January 2011 inflation of 2.8 was registered . In its result, annual inflation was 10.6% which promoted the increase of prices for food products by 8.8 percent points.

Inflation environment in Armenia continues to improve due to tenseness of key players of international food and raw-material market and high prices in the result of demand for agricultural products.

At present, despite the fact that rehabilitation of internal demand doesn’t create inflation risks, expected tendencies of economy development, strengthening of secondary impact of high inflation was registered last year and increase of inflation expectations create new inflation risks.

The Board emphasized the importance of gradual toughening of monetary-credit terms along with the forecasts of inflation development which will create conditions for the return of inflation into target corridor in the second half of 2011.

According to the state budget of Armenia 2011 inflation is planned in the amount of 4±1.5%.-0-

spot_img

POPULAR

Dollar and ruble exchange rates against Armenian dram rose, while euro fell

The average market exchange rate of the US dollar to the Armenian dram, as of April 2, 2025, rose by 0.06 points compared to April 1, reaching 391.16 drams.

US dollar slightly down  against dram

The average market exchange rate of the U.S. dollar to the Armenian dram on May 7, 2025, decreased by 0.18 points compared to May 6 and amounted to 389.28 drams.

Central Bank leaves refinancing rate unchanged taking into account high uncertainty in US economic policy

The Central Bank of Armenia decided today to leave the refinancing rate unchanged at 6.75% taking into account a set of factors such as  the continued high uncertainty surrounding the US economic policy, declining confidence in the global economy, growth slowdown and  a possible  weakening demand in Armenia, the head of the regulator Martin Galstyan said at a press conference on Tuesday.

Euro and ruble exchange rates to the Armenian dram fell, the dollar rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 6, 2025, increased by 0.06 points compared to June 5 and amounted to 383.46 drams.

AMX introduces remote membership model, opening doors to international investors

The Armenia Securities Exchange (AMX) and the Central Depository have introduced a Remote Membership model, which is aimed at providing access to foreign investors to the Armenia Securities Exchange, the press service of the exchange reported.

LATEST NEWS

spot_imgspot_imgspot_img