Fri, 25 July
27.1 C
Yerevan
USD: 383.74 RUB: 4.93 EUR: 450.05 GEL: 141.25 GBP: 521.81

Interest rates on deposits and loans recorded a drop in 2016

YEREVAN, February 7. / ARKA /. Interest rates on deposits and loans in Armenia recorded a drop in 2016 prompted by Central Bank’s prolonged loose monetary policy. According to the regulator, interest rates on deposits in Armenian national currency, the dram, were down by 0.7 p.p. to 9.9% in December 2016 when compared to November. The interest rates on more than 12 month deposits dropped by 0.28 percentage points to 12.4%. Interest rates on less than 12 month dollar deposits fell by 0.29 percentage points to 5%.

Interest rates on more than 12 month deposits fell by 0.09 percentage points to 6.1%. Interest rates on loans in Armenian drams repayable in less than 12 months increased by 0.42 percentage points to 15.5%, while interest rates on loans repayable in more than 12 months fell by 0.58 percentage points to 16%.
At the same time interest rates on dollar loans repayable in less than 12 months decreased by 1.06 percentage points to 8.1% and loans repayable in more than 12 months decreased by 0.68 percentage points to 9.8%.

It should be noted that the rates on deposits and loans in drams were falling throughout 2016; however, the decline in rates on deposits was quite significant. Thus, interest rates on loans in drams repayable in less than 12 months decreased by 0.49 p.p. in December 2016 when compared to the same period in 2015 and the rates on loans repayable in more than 12 months fell by 0.61 percentage points, while the rate on dram deposits up to one year decreased by 4.19 pp and on those with more than 12 months term fell by 2.35 pp.

Since the second half of 2015 the Central Bank began to gradually reduce the refinancing rate. As a result it fell from 10.5% in June 2015 to 6.25% in December 2016. During this period, the regulator reduced the refinancing rate 11 times, including 8 times in 2016.-0–

spot_img

POPULAR

US dollar rises slightly against Armenian dram, euro and ruble fall

The average market exchange rate of the US dollar against the Armenian dram as of July 17, 2025, rose by 0.16 points compared to July 16 and amounted to 384.12 drams.

Annual meeting of BSTDB Board of Governors to be held in Yerevan

The President of the Black Sea Trade and Development Bank (BSTDB) Serhat Köksal expressed his gratitude for hosting the annual meeting of the BSTDB Board of Governors in Yerevan during a meeting with Armenian Prime Minister Nikol Pashinyan on Tuesday.

Euro falls by 2.8 points against Armenian dram, meanwhile, US dollar and ruble decline slightly

As of July 16, 2025, the average market exchange rate of the U.S. dollar against the Armenian dram fell by 0.16 points compared to July 15, amounting to 383.96 drams.

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.

LATEST NEWS

spot_imgspot_imgspot_img