Friday, August 19 2011 17:00
Dollarization level continues falling in the conditions of dram deposits growing and foreign currency deposits reducing
Arminfo. In Armenia the dollarization level continues falling in the conditions of dram deposits growing and foreign currency deposits reducing. As press-service of Armenian Central Bank reported, the money stock in July grew by 3,3% at the expense of growth of the circulated cash by 5,7% and dram deposits by 8,8%.
The crediting volumes grew by 0,5% in the country in July.
According to the preliminary data of Central Bank, the money stock grew by 2% in June 2011, and by 6,1% in the first half-year (by 23% versus the same period of 2010), and amounted to 967.3 bln drams ($2.6 bln) by 1 July 2011. In the structure of the money stock the cash volume outside t5he banking system grew by 2,7% in July (dropped by 0.8% for Jan-June and by 13,8% versus 2010), having amounted to 301.8 bln drams by 1 July. The share of the dram deposits out of the total volume of the money stock was 24,7%, and of the foreign currency deposits - 44%. The volume of the attracted by commercial banks deposits grew by 3,7% in June 2011 (and by 25,2% versus the same period of 2010), having amounted to 785.7 bln drams by 1 July ($2.1 bln). In the structure of the attracted deposits the share of the drams deposits was 30,2%, and of the foreign currency ones - 69,8%. The credit investments of Armenian commercial banks grew by 1,8% for July, and by 37,7% versus June 2010, and by 17,8% for Jan-June amd reached 1.109 trillion drams ($3.008 bln) by 1 July 2011. In the credit portfolio of commercial banks the share of the dram credits was 40,5%, and of the foreign currency ones - 59,5%. The dram crediting grew by 3% for June 2011 (by 12,7% for Jan-June), and foreign currency crediting - by 1,7% (by 24,7% for Jan-June).
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