Sat, 26 July
22.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Interest rates on dollar deposits in Armenia’s banks down as loans up

YEREVAN, January 20. /ARKA/. Interest rates on deposits kept in Armenia’s commercial banks in dollars went down in November 2015 as dollar loan interest rates went up, the Central Bank of Armenia reports.

Interest rates on dollar deposits with up-to-one-year terms slid 0.38 percentage points to 5.33% and on less-than-one-year-term deposits slipped 0.94 percentage points to 7.03%.

Instead, loans extended in dollars rose – they were increased by 0.4 percentage points to 10.95% for up-to-one-year loans and 0.89 percentage points to 11.49% for longer-than-one-year dollar loans.

Interest rates on up-to-one-year dram deposits were downed 0.14 percentage points to 15.07%, but rates on more-than-one-year dram deposits were increased 0.37 percentage points to 14.8%.

Rates on up-to-one-year dram loans climbed 0.48 points to 17.02%, while interest rates on loans extended for more than one year slipped 0.31 points to 18.05%.

This interest rate policy of Armenia’s commercial banks was prompted by things at Armenia’s forex market and the set refinancing rate.

The dram sank 14.2% in November 2015, compared with November 2014. In October 2015, it fell 1.6%.

In November, the refinancing rate was downed 0.5 percentage points to 9.75%. Now it stands at 8.75%. —0—-

spot_img

POPULAR

In Armenia, bad loans worth over $1 million have been written off under the state support program – Ministry of Social Affairs

14,757 applications for writing off bad loans have been received in Armenia within the framework of the relevant state support program, which started on February 1, 2025.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

LATEST NEWS

spot_imgspot_imgspot_img