Fri, 11 April
11.1 C
Yerevan
USD: 391.07 RUB: 4.66 EUR: 443.20 GEL: 142.03 GBP: 511.21
spot_img

Central Bank: dollarization in Armenia believed to abate this year

YEREVAN, February 14. /ARKA/. The Central Bank of Armenia says in its monetary policy program for the first quarter of this year that dollarization in the country’s money stock is expected to subside 4.2% in 2012.

The regulator says that to tame down dollarization it plans to increase cash on hand by 13.3% and deposits in national currency by 30%, while deposits in foreign currencies will be enlarged by 12.6%.

It means the ratio of the country’s dram base to GDP will rise 10%.

The central bank also says that money and dram stock will grow 17.6% and 21.1% respectively, and monetary base will grow 8%.
According to National Statistical Service of Armenia, the country’s monetary base grew 13.6% or by AMD 80.2 billion in December 2011, compared to the previous month, to AMD 671.3 billion.

Money stock grew 5.2% or by AMD 55.8 billion in December 2011, compared with November, to AMD 1127 billion. ($1 – AMD 388.62).-0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

LATEST NEWS

spot_imgspot_imgspot_img