YEREVAN, February 8. / ARKA /. Armenia-based commercial banks have lowered their interest rates on loans and deposits, according to the Central Bank’s data.
As a result, in 2015 December interest rates on loans in the Armenian national currency, the drams, to be repaid in less than 12 months decreased by 1.66 percentage points to 15.36%, while interest rates on loans in USD also to be repaid in less than 12 months fell by 0.62 percentage points to 10.32%.
Interest rates on loans to be repaid after 12 months decreased by 1.24 percentage points to 16.81%, while rates on loans in USD fell by 0.34 percentage points to 11.16%.
At the same time, interest rates on deposits in drams with the repayment term of up to 12 months fell by 1.74 percentage points to 13.33%, and rates on deposits in USD also to be repaid after 12 months rose by 0.34 percentage points to 5.67%.
Also interest rates on deposits in drams with the repayment term of above 12 months fell by 0.02 percentage points to 14.79%, and interest rates on deposits in USD increased by 0.12 percentage points.
In December, the Central Bank lowered the refinancing rate from 9.75% to 8.75% .-0-
