Thursday, July 4 2013 20:21

Central Bank: In June 2013 interest rates in financial market of Armenia demonstrated slight quarterly decline


ArmInfo. Gayane Isahakyan. In June 2013 the interest rates in the financial market of Armenia demonstrated stability, having slightly declined over Q2.

The press service of the Central Bank of Armenia (CBA) told ArmInfo that in the primary market the average yield of government bonds with up to 1-year maturity made up 9% in June, having dropped by 0.5 pct points over Q2. In the interbank market the average monthly repo rate made up 8.5%, having dropped by 0.3 pct points over Q2.

The source says that in Q2 2013 the currency market of Armenia saw 0.5% AMD revaluation against USD, with the exchange rate being 412.6 AMD/$1. 1.2% devaluation against EUR was fixed, with the exchange rate being 543.6 AMD/1EUR, and 5.5% revaluation against RUR was fixed, with the exchange rate being 12.8 AMD/1RUR.

To recall, on June 25 2013 the CBA Board retained the refinancing rate at 8%. The lombard repo rates and the deposit rates were fixed at 9.5% and 6.5% respectively. During the 6 Oct 2012 session, the CBA Board revised the lombard repo rates and the deposit rates, having decreased the lombard repo rates from 10% and increased the deposit rates from 6%. The CBA Board reduced the refinancing rate from 8.5% to 8% on 12 Apr 2011 and has been retaining it at the same level so far.
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