Saturday, July 30 2011 14:23

Monetary base in Armenia up 6.4% to $1.4 billion for June 2011


ArmInfo. Monetary base in Armenia grew by 6.4% in June 2011, having totaled 520.2 bln AMD ($1.4 bln) by 1 July 2011. Preliminary data of the Armenian Central Bank provided by the National Statistical Service of Armenia say that monetary base grew 2.5% for Jan-June 2011 and 19.7% as compared with Jan-June 2010.

In the structure of monetary base, cash circulating outside the Central Bank grew by 2.5% for June 2011, having totaled 338.9 bln AMD by 1 July 2011. In Jan-June 2011 this indicator dropped by 2.7%. The share of compulsory dram reserves in total monetary base made up 17.3% or 89.9 bln AMD, having grown by 0.1% in June 2011 and by 56.3% in Jan-June 2011. The share of compulsory foreign exchange reserves totaled 14.7% of the total monetary base or 76.6 bln AMD, having grown by 37.3% in June and declined by 13.1% in Jan-June 2011.

The source reported that external reserves (exclusive of privatization funds) were up 7.3% for June 2011 to 402.5 billion drams (10.7% decline for Jan-June 2011 and 11.3% annual decline). Internal assets totaled 117.6 billion drams by July 1 2011, having grown by 3.4% for June. Capital requirement to the government totaled negative 83.6 bln AMD (7% monthly decline). The share of banks in total internal assets was 86.2 billion drams, having grown by 5.4% for June 2011. In the structure of internal assets, REPO transactions grew by 17.1% for June 2011 to 10.7 bln AMD.
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