YEREVAN, October 19. / ARKA /. Stabilization and a slight decline in interest rates were seen at Armenia’s lending market in September, the press office of the Central Bank of Armenia reported Friday while presenting the results of the session of the regulator’s board, which was held on October 9.
The average inter-banking repo rate was 9.43% in September against the previous month’s 9.91%, the average rate at the primary market government bonds with up to one year maturity period 9.43% against 9.42% and the average interest rate on stock inter-banking loans 8.1% against 8%.
The U.S. dollar rose 0.5% against the Armenian dram in September, compared with August, and traded at 408.6 drams, while the euro sank 2.9% against the Armenian national currency to 524.5 drams and the Russian ruble slipped 1% to 13 drams.
Fiscal environment in September was in tune with the basic scenario of the 3rd Q fiscal policy.
The 12-month growth money supply in foreign and national currencies was 23.6% and 16.9% respectively. Deposits in drams grew 22.4%, and those in foreign currencies 32.7% (21.6% excluded impacts from changes in foreign exchange rates).
The lending rate in September jumped almost 32 percent as loans in foreign currency continue to prevail. According to the Central Bank, the average interest rate on deposits in September was 8.3 percent, down from 8.7 percent in August, while the average interest rate on loans dropped to 14.8 percent from 15 percent. -0—
