Sun, 19 October
20.1 C
Yerevan
USD: 382.59 RUB: 4.71 EUR: 447.25 GEL: 141.36 GBP: 513.89

Armenian dram became stronger, preferable over last years

YEREVAN, November 22. /ARKA/. Armenian national currency has stabilized and become preferable for population over the 19 years of its existence. This is the conclusion made by ARKA News Agency after a blitz poll among Armenian financial market participants.

Head of financial markets transactions of Areximbank-group Gasprombank Narine Sargsyan said that the confidence toward Armenian dram has grown over the last years, despite certain weakening in 2009.

“At the moment confidence toward dram is quite high in case of savings, which, of course, is connected with high interest rates on deposits in drams,” she added.

According to head of dealing department of Bank Anelik Mher Grigoryan, high deposit interest rates make dram more demanded, confidence toward dram tends to continue growing.

The Central Bank of Armenia says average interest rate on dram deposits is 10.4% against 6.25% on foreign currency deposits.

According to the country’s National Statistical Service, deposits in drams totaled 333.6bln drams by the end of September 2012, 3.2 times as much as in the same period of 2006.

Armenian national currency, dram, was introduced on November 22, 1993. Since then dram had seen many highs and lows in its career (in the literal sense of the word) before it stabilized and strengthened in economically reasonable limits.

1,000, 5,000, 20,000, 50,000 and 100,000-dram banknotes are currently in circulation in Armenia and Nagorno-Karabakh. The banknotes have high-tech security features.–0—

spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Investor of the new era: how the capital management culture is changing in Armenia

Interest in investments in Armenia is growing, but it is too early to talk about an established capital management culture.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Armenia is experiencing an investment boom: opportunities, barriers and main misconceptions

Armenia's investment market is experiencing a period of active development: the number of issues is growing, digital technologies simplify access to financial instruments.

LATEST NEWS

spot_imgspot_imgspot_img