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Euro dives against USD as Italy’s sovereign rating falls and amid ECB statements

YEREVAN, July 10./ARKA/. Euro rates tumbled  against USD on Tuesday as ECB Governing Council member Jörg Asmussen spoke about the future monetary policy and Italy’s sovereign rating was downgraded, Russia’s RIA Novosti reported today.

By the end of the trades, the euro fell against USD to 1.2781 USD from a day’s earlier 1.2870. USD dropped against the yen to 101,15 yens per $1 from 100,97. Against the main six currencies, USD inched up to 84.59 points from Monday’s 84.17.

Asmussen said the ECB will maintain soft monetary policy and its current interest rate at current 0.5%.

S&P downgraded sovereign rating of Italy from ВВВ to ВВВ amid the deteriorating economic situation in the country. —0-

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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.

Insurance market of Armenia is in embryonic state

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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.

Armenia ratifies EUR 10.1 million investment agreement with EIB on Yerevan’s Second Energy Efficiency Program

The Armenian Parliamentary Committee on Financial, Credit and Budgetary Affairs gave a positive conclusion at its meeting on Friday on the ratification of the agreement on the investment grant for the "Second Yerevan Energy Efficiency Program" in the amount of EUR 10.1 million.

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