Friday, March 16 2012 18:17

Interest rates in Armenia gradually decline after temporary growth in Dec 2011 due to the changes in reserve requirements


ArmInfo. The interest rates in Armenia are gradually dropping after the temporary growth in Dec 2011 due to the changes in reserve requirements. The press service of the Central Bank of Armenia (CBA) told ArmInfo that the yield in the primary and interbank markets of securities fell in Feb 2012 versus Jan 2012. Thus, in Feb 2012 the market repo rate was down 0.5 pct points to 10.9%, and in the interbank market the repo rate dropped by 0.3 pct points to 10.7%. At the same time, in the primary market the average yield of government bonds with up to 1-year maturity was down 1.7 pct points to 8.9%. In the meantime, the average interest rate of interbank loans was 7.7% in Feb 2012 (3.2 pct growth versus Jan 2012).

On the foreign exchange market in Feb 2012 AMD dropped against USD by 0.3% to 388.6 AMD/1 USD but rose against EUR by 2.7% to 514.4 AMD/1 EUR. Against RUR AMD dropped by 4.68% to 13.04 AMD/1 RUR.

Mar 6 2012 the Central Bank kept the refinancing rate unchanged at 8%.
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