Fri, 4 April
8.1 C
Yerevan
USD: 391.32 RUB: 4.67 EUR: 432.53 GEL: 141.78 GBP: 514.27
spot_img

Armenia’s central bank sees no need to interfere in exchange rate fluctuations

YEREVAN, October 28. /ARKA/. The Central Bank of Armenia has not carried out interventions over the past month and does not see the need to interfere in the fluctuation of the exchange rate, Central Bank Chairman Martin Galstyan said Tuesday at a press conference.

He recalled that the main goal of the regulator is the stability of prices and finances, and the stability of the dram and its rate are interesting only to the extent associated with these phenomena.

“At the moment, the central bank does not see the expediency of intervening in the market, since the existing developments – a slight increase or decrease – are natural, and there is no need for other intervention from the central bank. More than that – over the past month, while the war is going on, the central bank did not carry out interventions,” Galstyan said.

He noted that the target indicator, after which the regulator could consider it necessary to intervene in the market processes, as such, is absent.

“We are monitoring the inflation rate, and it is in the zone that is in a manageable interval, and therefore we are calm,” Galstyan said.

According to the Central Bank, deflation in Armenia was 0.2% in September, compared to inflation of 0.2% in the same month a year before. The 12-month inflation was 1.4%, while 12-month natural inflation slightly increased, amounting to 1.3%. According to the Central Bank’s estimates, inflation will gradually increase over the forecast horizon, stabilizing around the 4% target by the end of the period.

In the government budget of Armenia for 2020, inflation is projected at 4% (± 1.5%). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

LATEST NEWS

spot_imgspot_imgspot_img