Armenia’s gross international reserves drop 1.1% to $1,739mln

YEREVAN, December 13. /ARKA/. Armenia’s gross international reserves totaled $1,739mln by the end of the third quarter 2012, a reduction of $19.8mln or 1.1% compared with the beginning of the quarter, Armenia’s Central Bank reports.

Vast majority of assets is in hard currency.

According to the report, special drawing rights (SDR) by IMF totaled $6.7mln by the end of the reporting period as compared with $59.6mln in the beginning of the third quarter. ($1=405.98drams). -0-

spot_img

POPULAR

Armbanks Weekly Digest: Key Events in the Armenian Financial Market (August 17–23)

Key developments in Armenia's financial market this week included new banking compliance requirements, measures against account fraud, and decisions related to capital market development.

S&P: Armenia’s banking sector is well capitalized and highly profitable

Armenia's banking sector remains well capitalized and highly profitable, supported by high net interest income and robust economic growth, according to a report from international rating agency S&P Global Ratings.

S&P affirms Armenia’s ratings, maintaining a positive outlook

The international rating agency S&P Global Ratings affirmed the long- and short-term sovereign ratings of the Republic of Armenia at 'BB-/B', maintaining a positive outlook, the Ministry of Finance reported.

Armenia set to enhance development of its capital market, targeting large issuers and new investors

YEREVAN, August 20. /ARKA/. The Armenian government prioritizes diversifying funding sources and advancing the capital market to foster sustainable and productive economic growth.

An Armenian Business Founded in a Garage: Games for Live Communication with the Support of Acba Bank

The success story of board games created by David Hovhannisyan began in a small garage near his home. David and his friends created educational games during their student years; as the number of orders grew, they decided to expand the business.

LATEST NEWS

spot_imgspot_imgspot_img