Saturday, April 23 2011 11:36
Yield decline fixed in Armenian market of government bonds in Q1 2011
ArmInfo. Over Q1 2011 the yield in the interbank and intrabank market of REPO transactions increased by 0.54% to 7.6%. The press service of the Central Bank of Armenia (CBA) told ArmInfo that notwithstanding this, yield decline was observed in the primary market of government bonds. In particular, the average weighted yield of government bonds with up to 1-year maturity dropped by 1.2% to 7.9%, and the yield of mid-term bonds - by 0.68% to 13.7%.
According to the CBA, in the currency market the average market exchange rate of Armenian dram against US dollar rose by 1.48% to 366.14 AMD/$1, against EUR - by 2.1% to 500.96 AMD/1 EUR, against Russian ruble - by 6.25% to 12.53 AMD/1RUR.
The CBA Board increased the refinancing rate from 7.25% to 7.75% on Feb 8 2011, by 0.5% to 8.25% on March 4, by 0.25% to 8.5% on April 12, and in this compliance the lombard REPO rates were increased to 11.5% and the attracted deposit rates were increased to 5.5%.
According to the data of the commercial banks, the interest rates of AMD deposits dropped by 8.8% to 8.6% in Jan-Feb 2011, and grew by 0.8% as compared with Jan-Feb 2010. The interest rates of AMD loans of the Armenian commercial banks fell from 18.9% to 18.3% in Jan-Feb 2011, and by 0.8% as compared with Jan-Feb 2010.
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