Thursday, June 17 2010 18:05

Dollarization growth rate slackening in Armenia


ArmInfo. Dollarization growth rate is slackening in Armenia as deposits in terms of the national dram grew 0.1% in May versus April and deposits in terms of US dollars fell 3.5%. The Armenian Central Bank Council announced on June 8, the press-service told ArmInfo on Thursday. Nevertheless, the CB Council declared that lending in US dollars still prevails over loans in terms of national currency.

In May yield of bonds grew at the primary and secondary government bond markets. Thus, the yield of 1- year short-term government bonds at the primary market grew 3.2% and the yield of 3-5-year mid-term government bonds grew 0.91%. Yield of government bonds in REPO-deals fell 1.43%.

Ranking of Armenian Commercial Banks prepared by the Agency of Rating Marketing Information ArmInfo says the aggregate lending portfolio of the banking system of Armenia totaled 830.6 billion drams on April 1 2010, investing in government securities totaled 84.3 billion drams and portfolio of time deposits amounted to 455.2 billion.
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