{"id":75882,"date":"2014-05-20T09:53:27","date_gmt":"2014-05-20T09:53:27","guid":{"rendered":"https:\/\/armbanks.am\/2014\/05\/20\/240832\/"},"modified":"2024-12-15T13:11:31","modified_gmt":"2024-12-15T13:11:31","slug":"armenias-central-bank-still-not-to-keep-external-assets-in-gold","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2014\/05\/20\/75882\/","title":{"rendered":"Armenia\u2019s Central Bank still not to keep external assets in gold"},"content":{"rendered":"<p><strong>YEREVAN, May 20. \/ARKA\/.<\/strong> The Central Bank of Armenia intends to continue not keeping external assets in gold, head of the Central Bank of Armenia Artur Javadyan said.<\/p>\n<p>It was a right thing to sell the gold reserve uib December 2013, and the dynamics of gold prices over the last year or two proves it, Javadyan said.<\/p>\n<p>The head of the central bank said gold cost $1,920 per ounce at world exchanges in 2013 and it cost a bit higher than $1,290 today.<\/p>\n<p>\u2018Now imagine what amounts we would have lost\u2019, Javadyan said.<\/p>\n<p>On Monday Armenia\u2019s president Serzh Sargsyan suggested the parliament reelecting Javadyan as head of the central bank.<\/p>\n<p>At the end of 2003, the Central Bank of Armenia made a strategic decision not to use gold in its external gross reserves. The bank received about $17 million from selling the gold reserves of a total of 1.4 tons. During 2004 the bank converted these funds to pounds and made investments in this currency. Consequently, real profit rate of the investments was about 13% (pound strengthened vs dollar by 8.4%), whereas profit rate of investments in gold mar reach maximum 9%.<\/p>\n<p>According to the Central Bank, the country\u2019s gold reserve had remained unchanged before the sale \u2013 1,396,000 kilograms 544.42 grams that were assessed at $17.1 million as of October 1, 2003.<\/p>\n<p>Armenia\u2019s gold reserves that were valued at from $15 million to $18 million were sold at the best price \u2013 over $400 per Troy ounce. \u20130&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Armenia intends to continue not keeping external assets in gold, head of the Central Bank of Armenia Artur Javadyan said<\/p>\n","protected":false},"author":1,"featured_media":159396,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12361,12617],"class_list":{"0":"post-75882","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-armenia-2","10":"tag-cba","11":"tag-gold"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/75882","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=75882"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/75882\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/159396"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=75882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=75882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=75882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}