Tue, 29 April
19.1 C
Yerevan
USD: 389.45 RUB: 4.78 EUR: 443.12 GEL: 141.62 GBP: 521.16
spot_img

Interest rates stabilize in frist quarter of 2014

YEREVAN, April 8. / ARKA /. Armenia’s Central Bank said after a March 26 meeting of its Board that in the first quarter of 2013 interest rates on loans stabilized somewhat.

It said the average interest rate on interbank repo as of March 15 was 8.4%, down 1.4 percentage points compared to the end of last year. The average interest rate in the primary market of government bonds maturing within 12 months was 9.7%, down by 0.6 pp, while the average interest rate on inter-bank loans was 7.7%, down by 0.3 pp compared with the end of 2012.

In the currency market the national currency, the dram, depreciated 1.5 percent as of March 15 against the U.S. dollar to 411.5 drams and euro declined by 0.6 percent, amounting to 535.7 drams.
In February 2013 the 12-month increase in the money and dram base was 20.9% and 13.0% respectively, while the share of dram deposits in total deposits grew by 19.0%, and that of deposits in foreign currency by 31.4%.

High lending rate persisted through February- 26.1% per annum, while the bulk of lending was in foreign currency.

According to the Central Bank of Armenia, the average interest rate on deposits in February was 9.2%, down from 9.6% in January, and the average interest rate on loans in February and January was 14.9%. -0-

spot_img

POPULAR

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia’s international reserves rose to $3.9 billion in March, providing 2.9 months of import coverage – WB

Armenia's international reserves increased to $3.9 billion in March 2025, offering 2.9 months of import coverage, according to the World Bank's Monthly Economic Update for April 2025.

In Armenia, remittances have begun to recover after a 35% decline in 2024

On the demand side, average real wages in Armenia have increased in 2025, and net money transfers have shown an upward trend, contributing to consumption growth, according to the World Bank's Armenia Monthly Economic Update – April 2025.

Instruments for supporting SMEs in Armenia were discussed with bankers at the Ministry of Economy

Financial instruments for supporting small and medium-sized businesses (SMEs) were discussed by Deputy Minister of Economy of Armenia Lilia Sirakanyan and bank representatives.

LATEST NEWS

spot_imgspot_imgspot_img