Tuesday, May 31 2011 17:39

Monetary base in Armenia up 1.3% for April 2011


ArmInfo. Monetary base in Armenia was up 1.3% for April 2011 to 499.6 bln drams ($1.337 bln) as of May 1. Preliminary data of the Armenian Central Bank provided by the National Statistical Service of Armenia say that monetary base grew 5.8% per annum (versus May 1 2010).

In the structure of monetary base, cash circulating outside the Central Bank grew 2.4% for April 2011 to 319.8 bln drams as of May 1. The share of compulsory dram reserves in total monetary base made up 20.6% or 103 billion drams. This indicator grew 7.4% for April and almost threefold per annum. The share of compulsory foreign exchange reserves totaled 12.7% of total or 63.7 billion drams falling 22.4% for April (down over twice versus May 1 2010). The source reported that external reserves (exclusive of privatization funds) were down 8% for April to 387.7 billion drams (26% down per annum). Internal assets were up 31.6% to 111.9 bln drams as of May 2011. Capital requirement to the government totaled negative 87.2 billion drams falling 5.3% for April. The share of banks in total internal assets was down 309-fold to 20.6 billion drams.
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