Sun, 28 September
24.1 C
Yerevan
USD: 382.71 RUB: 4.59 EUR: 446.43 GEL: 141.38 GBP: 510.80

Level of dollarization in Armenia in 2013 declined by 3.3 percentage points to 59.7 percent

YEREVAN, February 27. / ARKA /. The level of dollarization (the ratio of foreign currency deposits to total deposits of residents) in Armenia in 2013 December was 59.7% , down 3.3 percentage points from the beginning of the year, the Central Bank said in its monthly bulletin for December 2013 .

Despite the decline, the share of deposits in foreign currency remains high – 45.1%. At the end of December 2013 deposits in foreign currency stood at 697.3 billion drams, having increased by 14.6%.

At the same time, deposits in Armenia’s national currency, the dram, increased by 31 percent to 463.6 billion drams or 29.9 % of the total money supply.

The share of cash dram in the overall money supply in circulation in 2013 decreased to 24.8 % to 384.5 billion drams.

According to the Central Bank, the money supply at the end of 2013 rose by 14.8 percent to 1.545.4 trillion drams ($ 1 – 412.76 drams). -0-

spot_img

POPULAR

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

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.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

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.

LATEST NEWS

spot_imgspot_imgspot_img