Residents of Armenia may be forbidden to receive loans in foreign currency

YEREVAN, January 31. /ARKA/. The ruling Civil Contract party of Armenian PM Nikol Pashinyan has proposed an amendment to the law On Currency Regulation and Currency Control stipulating that banks and credit organizations provide consumer and mortgage loans to Armenian residents only in the country’s national currency dram.

According to co-author of the amendment, MP Gevorg Papoyan, individuals, who are not residents of Armenia, will be able to receive mortgage loans in other currencies.

According to Papoyan, the situation when incomes of citizens are in drams, while loan payments are made in foreign currency, causes risks, the largest one is the volatility of the exchange rates, which may put citizens at risk of not being able to repay their loans.

In particular, he noted that loans taken in euros have become 5-6% more expensive since the beginning of the year. He also pointed out that the share of troubled loans in drams is around 1%, while those in foreign currencies is 5-6%.-0-

spot_img

POPULAR

Armenian dram strengthened against the dollar and the ruble, but weakened against the euro: Central Bank

The average market exchange rate for the US dollar to the Armenian dram, formed on the Armenian foreign exchange market as of August 28, 2026, fell by 0.15 points to 364.32 drams compared to August 27.

Armenia’s bank rates are responding slowly to the Central Bank’s rate cut, regulator 

Interest rates in Armenia's banking system are adjusting slowly, despite the reduction in the monetary policy rate and short-term market rates.

Armbanks Weekly Digest: Key Events in the Armenian Financial Market (August 24–30) 

Armenia's financial agenda last week was determined by the Central Bank's inflation signals and monetary policy transmission, the state of international reserves, and the state's debt parameters.

Armenian banks’ investments in securities in the second quarter amounted to 1.92 trillion drams

The total volume of investments by Armenian commercial banks in securities as of the end of June 2026 amounted to 1,922,826,829 thousand drams.

UATE Expo bonds worth over 763 million drams listed on AMX

UATE Expo LLC (UATE) is entering the capital markets by listing its bonds on the Armenian Stock Exchange (AMX), the exchange's press service reported.

LATEST NEWS

spot_imgspot_imgspot_img