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-
