Mon, 30 June
31.1 C
Yerevan
USD: 384.47 RUB: 4.90 EUR: 450.83 GEL: 141.25 GBP: 526.80

Interest rates on bank deposits in drams decreased in 2016 January

YEREVAN, February 24. / ARKA /. Interest rates on bank deposits in Armenia’s national currency, the dram, decreased in 2016 January when compared to the previous month, while interest rates on deposits in USD grew, according to the Central Bank of Armenia data.

In particular, interest rates on deposits in drams deposited for a term of up to 12 months fell by 0.74 percentage points to 13.35%, while rates on deposits with a term of more than 12 months dropped by 0.11 percentage points to 14.61%. At the same time interest rates on dollar deposits deposited up to one year increased by 0.52 percentage points to 6.17%, and on deposits deposited for more than a year – by 0.11 percentage points p to 7.16%.

Regarding interest rates on loans, in January 2016 they showed an upward trend. Thus, interest rates on loans in drams maturing in less than 12 months increased by 1 percentage point to 16.96%, and on loans with a maturity period of more than 12 months – by 2 percentage points to 18.69%.

At the same time interest rates on dollar loans maturing in less than 12 months decreased by 0.48 percentage points to 10% and on loans with a maturity period more than 12 months increased by 0.23 percentage points to 11.36%.

In December, the refinancing rate was reduced from 9.75% to 8.75%, in February it was cut to 8.5%. -0-

spot_img

POPULAR

US dollar exchange rate unchanged, euro and ruble rise

The average market exchange rate of the U.S. dollar to the Armenian dram on March 7, 2025, remained at 394.58 drams, unchanged compared to March 6.

Central Bank of Armenia considering introducing long-term mechanisms for insurance against fraud

The Central Bank of Armenia is considering the possibility of introducing mechanisms for insurance against fraud.

Armenian banks  in 2024 increased profit by 61% to 363 billion drams – UBA

Armenia-based banks made a profit of 363 billion drams in 2024, an increase of about 137 billion drams, or 61%, compared to 2023,  Daniel Azatyan, the head of the Union of Banks of Armenia (UBA) told a press conference today.

ACBA Bank summarizes the results of 2024 (video)

ACBA Bank summarized the results of 2024 and defined the future directions of the bank's development at the annual general meeting of shareholders, ACBA said in a press release today.

Armenia to receive EUR 26 million loan from KfW bank for renewable energy development

Armenia will receive a loan and a grant from the German KfW bank for the implementation of the "Renewable Energy and Energy Efficiency Development" program.

LATEST NEWS

spot_imgspot_imgspot_img