Tue, 10 June
24.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Central bank to reduce Lombard repo rate in first quarter

YEREVAN, February 23. / ARKA /. Armenia’s Central Bank said today it will reduce again the rate on Lombard repo in the first quarter of this year in order to trigger a drop in rates in short-term loans in drams.

The regulator said it had raised  earlier this year the key refinancing rate to 10.5%  bringing it close to the rates on short-term loans in drams, which is expected to help stabilize the situation in the financial market”, – the report says.

At an extraordinary meeting on January 22, the Central Bank raised the key refinancing rate by 1 p.p. to 9.5% and lowered the rate on Lombard repo by 3 percentage points to 17%. At a February 10 meeting the regulator again raised the refinancing rate to 10.5% lowering the rate of Lombard repo to 14.5%.

Earlier, in order to curb the pressure on the currency market,  after US dollar jumped by 16.6 points in late 2014 November to 435 drams, the Central Bank started to raise the cost of short-term liquidity in drams by raising the Lombard repo rate to 21%. -0-

spot_img

POPULAR

Euro and ruble exchange rates to the Armenian dram fell, the dollar rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 6, 2025, increased by 0.06 points compared to June 5 and amounted to 383.46 drams.

Average settlement exchange rate of dram to dollar in May was 0.3% lower than a year ago

In May 2025, the average settlement exchange rate of the Armenian dram to the US dollar was 386.6 drams, which is 0.3% lower than the same indicator in May 2024 (387.8 drams).

Mechanism to stimulate cashless payments to be developed in Armenia

On Friday, the Armenian government held a meeting on issues related to stimulating cashless payments in the country.

Acba Bank and NABU launch free 2025 program for organic agriculture development

Acba Bank and the Armenian branch of the German "Nature and Biodiversity Conservation Union" (NABU) are launching a free 2025 Organic Agriculture Development Program, the bank's press service reported.

Dollar and euro exchange rates to the Armenian dram fell again, while the ruble rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 4, 2025, fell again by 0.1 points compared to June 3 and amounted to 383.76 drams.

LATEST NEWS

spot_imgspot_imgspot_img