Friday, April 20 2012 17:38

Yield reduction observed in market of government bonds of Armenia in March


ArmInfo. Yield reduction was observed in the market of government bonds of Armenia in March 2012. The press service of the Central Bank of Armenia told ArmInfo that the yield reduction was due to the neutral monetary policy of the Central Bank, as well as to the continued reduction of the interest rates after the temporary growth in December due to the change of the mechanism of reserve requirements. According to the source, in March 2012 the market repo rate dropped by 1.07pct points to 9.81%, and in the interbank market the repo rate dropped by 1.27 pct points to 9.46%. Alongside with this, in the primary market the average yield of the government bonds with up to 1-year maturity made up 8.77% (0.13% decline).

In March 2012 AMD devaluation against USD made up 0.13%, and the exchange rate was 389.13 AMD/$1 (5.32% devaluation of AMD versus March 2011). AMD devaluation against RUR made up 1.66%, and the exchange rate made up 13.26 AMD/1RUR (2.34% devaluation versus March 2011). The AMD/EUR exchange rate underwent no changes in March - 514.2 AMD/1EUR (0.32% revaluation versus March 2011).

To note, on April 10 2012 the CBA Council retained the financing rate at 8%; the lombard repo rates and the rates of the attracted deposits were retained at 11% and 5% respectively.
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