Tue, 29 April
20.1 C
Yerevan
USD: 389.45 RUB: 4.78 EUR: 443.12 GEL: 141.62 GBP: 521.16
spot_img

Armenian parliament approves amendments making derivative financial instruments available from 2017

YEREVAN, October 27. /ARKA/. Armenia’s parliament has approved today in the second and final reading a package of amendments to the law “On the Securities Market” and to a package of laws regulating the financial market.

Deputy chairman of the Central Bank Nerses Yeritsyan said the amendments are designed to help develop the market of derivative financial instruments such as futures, forwards, options, swaps and repos.

He said the main purpose of the changes is to introduce these global standards in Armenia, which will allow Armenian market subjects to conclude international agreements and enter the international market of derivatives.

In his words, this will help develop Armenia’s capital market and allow businesses to curb potential risks, as well as have a positive impact on the economy.

He also noted that swaps, futures, forwards and other derivatives allow to insure transactions against currency fluctuations.  He said these tools will help avoid possible risks, as the one triggered by the depreciation of the Russia currency in 2014.

He said derivative tools will become available from 2017 as an opportunity to stimulate the export market, ensure certain investment stability and reduce the export risks.

He noted that Armenian banks are ready to serve international futures and forward contract. The deputy head of the Central Bank also noted that the Central Bank intends to create a registry for transactions with derivatives.

The derivatives market in Armenia is represented only by repurchase agreements and swap deals in very small volumes. Thus, according to the National Statistical Service, at the end of 2015 the volume of repo transactions made by persons providing investment services amounted to 1 431.4 billion drams. At that no repo deals were concluded as NASDAQ OMX Armenia stock exchange. ($ 1 – 475.50 drams).  -0-

spot_img

POPULAR

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia’s international reserves rose to $3.9 billion in March, providing 2.9 months of import coverage – WB

Armenia's international reserves increased to $3.9 billion in March 2025, offering 2.9 months of import coverage, according to the World Bank's Monthly Economic Update for April 2025.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

In Armenia, remittances have begun to recover after a 35% decline in 2024

On the demand side, average real wages in Armenia have increased in 2025, and net money transfers have shown an upward trend, contributing to consumption growth, according to the World Bank's Armenia Monthly Economic Update – April 2025.

LATEST NEWS

spot_imgspot_imgspot_img