YEREVAN, September 20. / ARKA /. Armenia’s Central Bank said today the country’s monetary base has dropped by more than 6 billion drams (or 1%) in September to around 587 billion drams.
The decline was mainly due to a 10.1 billion drams reduction in mandatory reserves in domestic currency, which stood at 106.6 billion on the 19th of September. Cash money outside the Central Bank and mandatory reserves in foreign currency amounted to 364.3 billion drams and 106.9 billion drams respectively, increasing by 0.2% and 5.1% from September 1.
Armenia’s net international reserves (less funds from privatization) on September 19 reached 473.4 billion drams, having increased in comparison with the beginning of September by 3.4 billion drams or 0.7%. ($ 1 – 374.87 AMD). -0-
