{"id":101632,"date":"2016-09-27T12:55:47","date_gmt":"2016-09-27T12:55:47","guid":{"rendered":"https:\/\/armbanks.am\/2016\/09\/27\/245212\/"},"modified":"2024-12-15T13:25:26","modified_gmt":"2024-12-15T13:25:26","slug":"daily-says-central-bank-seeks-to-devaluate-dram-in-support-of-new-prime-minister","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2016\/09\/27\/101632\/","title":{"rendered":"Daily says central bank seeks to devaluate dram in support of new prime minister"},"content":{"rendered":"<p><strong>YEREVAN, September 27. \/ARKA\/.<\/strong>\u00a0 Armenia\u2019s Central Bank is making drastic changes in its monetary policy, which have coincided with change of prime minister and formation of a new government, the local daily \u2018Haykakan Zhamanak\u2019 (Armenian Time) says in its today\u2019s issue.<\/p>\n<p>Specifically, the Central Bank\u2019s Board decided last week to lower the reserve requirement in foreign currency for local commercial banks from 20% to 18. &#8220;This key indicator that has a significant impact on the interest rates on bank loans had remained unchanged for one year and eight months&#8221;, the newspaper reminds.<\/p>\n<p>Earlier, in December 2014, to stabilize the situation on the currency market and to curb currency speculation the regulator had raised reserve requirement in foreign currency from 12% to 24%. The next day the Armenian dram began to gain value. On December 24 the Central Bank lowered the reserve requirement in foreign currency from 24% to 20%.<\/p>\n<p>According to the newspaper\u2019s forecasts, these moves may in a certain way devalue the national currency, the dram, but at the same time, strengthen the business environment along with a further increase in tax revenues.<\/p>\n<p>What is remarkable, according to the newspaper,\u00a0 is that no significant changes in the financial and economic situation in the country have occurred, and such a decision could have been taken much earlier.<\/p>\n<p>Moreover, the newspaper writes, today the Central Bank is supposed to discuss the refinancing rate issue, and, if it decides to cut the rate not by 0. 25%, but by 0.5%, we can say with certainty that that decision is made for political reasons to support the new prime minister. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenia\u2019s Central Bank is making drastic changes in its monetary policy, which have coincided with change of prime minister and formation of a new government, the local daily \u2018Haykakan Zhamanak\u2019 (Armenian Time) says in its today\u2019s issue<\/p>\n","protected":false},"author":1,"featured_media":173275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12159,9216],"tags":[15837,12150,12345,535],"class_list":{"0":"post-101632","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-exchange-market","8":"category-news","9":"tag-armenia-2","10":"tag-cb","11":"tag-dram","12":"tag-535"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/101632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=101632"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/101632\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/173275"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=101632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=101632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=101632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}