Tuesday, September 18 2012 19:17

Financial market of Armenia still experiences declining rates


ArmInfo. The financial market of Armenia experienced declining rates in August 2012. The press service of the Central Bank of Armenia (CBA) told ArmInfo that the continuing drop of the rates resulted in reduction of the average interest rate of interbank loans to the level of the refinancing rate - 8%.

The source says that in the primary market the average yield of government bonds with a maturity of up to 1 year was 9.4%, and in the interbank market the average monthly repo rate was 10%.

In August 2012 versus July 2012 the currency market of Armenia demonstrated 0.4% revaluation of AMD against USD, and the exchange rate was 410.9 AMD/$1. 0.5% AMD devaluation against EUR formed an exchange rate of 509.1 AMD/1EUR, and 1.24% devaluation of AMD against RUR formed an exchange rate of 12.9 AMD/1RUR.

To recall, on September 4 2012 the CBA Board retained the refinancing rate at 8%. The lobard repo rates and the deposit rates were fixed at 10% and 6% respectively.
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