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

Strong banks’ capital and liquidity positions mitigate risks to Armenia’s financial stability – Fitch

Risks to financial stability in Armenia are mitigated by banks' strong capital and liquidity positions, according to the international ratings agency Fitch Ratings.

MONEYVAL recommended Armenia strengthen its fight against money laundering and confiscation of criminal assets

The Council of Europe's Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) noted Armenia's progress in developing its system for combating financial crime, but recommended strengthening the effectiveness of money laundering investigations, asset confiscation, and oversight of certain economic sectors.

Fitch Expects Central Bank of Armenia to Raise Refinancing Rate

International rating agency Fitch Ratings expects a temporary increase in the refinancing rate in Armenia.

Members of the Armenian health insurance system will be able to receive bonuses for a healthy lifestyle

At a meeting on Thursday, the Armenian government approved the procedure for accruing bonus points within the universal health insurance system.

Institutional Trust and Portfolio Diversification: Renshin LLC Bonds Debut on the AMX

A major milestone in the institutional alignment of Armenia’s financial and real sectors was recorded on July 8, as bonds issued by Renshin LLC—a leading real estate developer—were officially listed on the Armenian Securities Exchange (AMX).

LATEST NEWS

spot_imgspot_imgspot_img