YEREVAN, January 13. /ARKA/. According to the Central Bank of Armenia, the monetary base decreased by about 68.3 billion drams (or 10.2%) from the beginning of the month to 602.9 billion drams as of January 12.
The decline was mainly due to a 53.7 billion dram reduction in correspondent accounts in foreign currency which stood on the 12th of January at more than 48.8 billion drams.
Correspondent accounts in national currency decreased by 4.1%, while money supply out of the Central Bank amounted to more than 390.9 billion drams, a decrease of 2% or 7.8 billion drams as opposed to the beginning of the month.
Net international reserves (excluding funds from privatization) on January 12 reached 413.3 billion drams, contracting by 12.2% or 57.3 billion drams from the beginning of January. ($1 – 387.61 drams). -0-
