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—-
