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Monthly Archives: December, 2014

Prime minister does not expect serious turmoil in financial market

Armenian Prime Minister Hovik Abrahamyan said today he did not expect serious turmoil in the financial market

Armenia’s commercial banks purchase about $110.8 mln at intra-banking forex market last week

Armenian commercial banks purchased about $110.8 mln at a weighted average rate of 457.36 drams per $1 in intra-banking foreign exchange market on December 22 to December 27

VTB Bank (Armenia) expands its phone banking service

VTB Bank (Armenia) has introduced its “phone banking” service for organizations and private entrepreneurs, having in mind the growing demand, says the bank’s press office

Banks’ assets account for 83% on Armenia’s GDP – Javadyan

The current financial system assets to GDP ratio is 83% in Armenia and the loans to GDP is 50%, higher than in other countries of the region, the head of the country’s central bank Artur Javadyan said at the New Year reception on Friday

Consolidation of Armenia’s banking system to help resist external shocks

Consolidation of the banking system will facilitate external shock resistance, head of the Central Bank of Armenia Artur Javadyan said at a New Year reception in the bank

Armenia’s reserves sufficient for guarding against financial instability – president

Armenia’s reserves are sufficient for prevention of financial instability, Armenian president Serzh Sargsyan said at a New Year reception in the central bank

VTB Bank (Armenia) reopens renovated branch in Amasia

VTB Bank (Armenia) has reopened today the renovated branch in the village of Amasia in the north-western province of Shirak

Armenia’s Central Bank sells $2 million to commercial banks at 463.78 drams per one US dollar

Armenia’s Central Bank has sold today $2 million to commercial banks at the average weighted exchange rate of 463.78 drams per one US Dollar

Ulyukaev: key interest rate should be lowered throughout 1st Q 2015

Russian Economic Development Minister Alexey Ulyukaev proposes the central bank to down its key interest rate throughout the first quarter of them next year, according to Banki.ru

Raising reserve requirement deprives economy of 100bln drams – ex-head of Armenian Central Bank

The raising of the reserve requirement in foreign currency for commercial banks will deprive the country’s economy of some 100 billion drams, the ex-head of the central bank Bagrat Asatryan said at a news conference on Thursday

Ex-governor of Central Bank says large-scale interventions are impermissible with floating exchange rate

A former head of Armenia’s Central Bank, Bagrat Asatryan, has disapproved today of Central Bank’s decision to respond to depreciation of the national currency throughout late November and December

Armenia’s Central Bank sells $2 million to commercial banks at 459.29 drams per one us dollar

Armenia’s Central Bank has sold today $2 million to commercial banks at the average weighted exchange rate of 459.29 drams per one US Dollar