Wednesday, June 23 2010 16:53
The tendency of interest rates decrease to continue in Armenia, Armenian Central Bank predicts
ArmInfo. The tendency of interest rates decrease will continue in Armenia, as representative of Armenian Central Bank Vahe Vardanyan said, the policy conducted by the Central Bank and the government in 2009 on the long-term infusion in terms o dram, seriously affected the interest rates. Incidentally, the interest rates on crediting legal persons reduced by 3-4% having amounted to the average 14-15% in terms of dram.
He also added the tendency on decrease of the interest rates for the foreign currency credits has been also noticed. "The banks have rather big foreign currency resources in assets and until we notice the demand for the dram credits at the market, we will be forced to reduce interest rates. We have already the banks which reduced the interest rates to 11-12%", - he said.
Touching on the refinancing rate rising by Central Bank (7,25%) Varsanyan said it will chiefly affect the inter-bank interest rate and deposit interest rates. , - Vardanyan said and added that at present in some banks the difference between the rates for the dram and foreign currency deposits is 4-5%.
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