Mon, 7 April
20.1 C
Yerevan
USD: 391.22 RUB: 4.63 EUR: 431.28 GEL: 142.08 GBP: 508.39
spot_img

Dollarization level in Armenia saw no change last year: Ashot Osipyan says

YEREVAN, January 31. / ARKA /. The level of dollarization in Armenia did not see any significant change last year, Ashot Osipyan, the chairman of the Union of Banks of Armenia, told a news conference today at Novosti International Press Center

According to the Central Bank of Armenia, the dollarization (the ratio of foreign currency deposits to total deposits of residents) at the end of November 2012 was 62.7% against 62.1% in November 2011.

“Today we are living in a changing world, and the priority is stability. This is why we did not see major shifts in terms of the level of dollarization in 2012. Our foreign exchange market was stable throughout the past year “, he said.

According to him, the slight increase in the level of dollarization was due to the stability of the exchange rate, and “the speculative growth of the dram exchange rate in May and June had no effect on the overall situation.”

“On the contrary, given the currency exchange risks, our commercial banks borrow funds in the national currency, the dram. As for forecasts, the most important for us is stability, including the exchange rate. If there is growth, then let it be stable and smooth. In this context, we see no problems “, he said.  -0-

spot_img

POPULAR

Fitch: Armenia plans to issue Eurobonds in the first quarter of 2025

Armenian authorities are planning to issue Eurobonds in the first quarter of 2025 to repay a $313 million Eurobond maturing in March 2025, Fitch Ratings said in a report.

Armenian banks’ profits should be invested into various sectors- UBA head

Accumulated profits and funds of the banks should be directed to investments, said Daniel Azatyan, Chairman of the Union of Banks of Armenia (UBA), in response to a question from ARKA news agency about forecasts for 2025 and the readiness of banks to contribute to the capital market development.

 Inflation of 2.5% registered in Armenia in February

In February of this year, the 12-month inflation in Armenia's consumer market was 2.5%, according to a report by the National Statistical Committee (NSC) of Armenia.

Dollar, Euro And Ruble Exchange Rates Slightly Decrease Against Dram

The average market exchange rate of the US dollar to the Armenian dram on April 4, 2025, dropped by 0.1 points compared to April 3 and amounted to AMD 391.22.

Draft law on crypto assets to be submitted to Armenian parliament in coming weeks – Deputy Chairman of Central Bank

The draft law on crypto assets, developed by the Central Bank of Armenia in the context of European norms, will be submitted to the Armenian parliament in the coming weeks, said Deputy Chairman of the Central Bank Armen Nurbekyan.

LATEST NEWS

spot_imgspot_imgspot_img