YEREVAN, June 24. /ARKA/. Armenian banks’ interest rates on short-term deposits in drams rose 2 percentage points to 15.26% in May 2015, the Central Bank of Armenia reports on its website.
Interest rates on dollar deposits shed 0.25 percentage points to 5.88%. Interest rates on long-term deposits in Armenian drams slid 0.06 percentage points to 14.19% and on long-term deposits in dollars 0.3 percentage points to 6.95%.
As for Armenian banks’ lending interest rates, both short-term and long-term loans either in drams or in dollars became more expensive.
Interest rates on short-term loans in drams rose 0.61 percentage points to 17.66% and in dollars 0.77 points to 10.68%.
Interest rates on long-term loans in drams went 1.04 percentage points up to 17.45% and in dollars 0.51 points to 12.36%.
It is worth to say that the financial shocks emerged because of devaluation of the Armenian national currency, the tightened requirements to banks for obligatory reservation in foreign currencies, which later led to liquidity shortage at Armenian banks, and also the increase of refinancing rate in late 2014 have driven the interest rates up in the first quarter of this year. —-0—-
