Thursday, September 13 2018 11:34

ArmInfo.Gross international reserves of Armenia in January- August 2018 dropped by 10.6% to $ 2.070 billion. In the year-over-year terms (August 2018 versus August  2017), this indicator decreased by 4.9%.

According to the data of  Central Bank of Armenia in the structure of  reserves $ 2.067 billion account for external assets in freely  convertible currency, which declined by 5% in y-o-y terms, and in  January-August alone - by 10.4%. The SDR's share in the IMF was $ 3  million, having increased 3.2-fold year-on-year, but in  January-August alone declining by 58.4%, with the sharpest decline  occurring in July-August.  It is noteworthy that after the  acceleration of the decreasing dynamics of gross international  reserves from 3.5% in the first quarter to 10.8% in the second  quarter, in July-August this indicator grew by 3.9%, accompanied by a  4% increase in foreign assets in freely convertible currency amid the  decline in the share of SDR in the IMF by 45.4%.

To note for comparison that in January-August 2017 gross  international reserves decreased by 1.3%. In their structure,  external assets in freely convertible currency declined by 1.1%,  while the share of SDR in the IMF decreased by 72.8%. The y-o-y  dynamics at that time (August 2017 versus August 2016) looked as  follows: gross international reserves increased by 27.8%, with  foreign assets in freely convertible currency growing by 27.7% and an  increase in the share of SDR in the IMF 2.3-fold. Moreover, after the  slowing down of the dynamics of gross international reserves from  6,9% in the first quarter to 1,8% in the II quarter, in July-August  2017 the growth of this indicator was ensured by 7.9% , accompanied  with the growth of external assets in freely convertible currency by  8.3 % with a decline in the share of SDR in the IMF by 87%.

To recall, gross international reserves of Armenia for 2017 amounted  to $ 2.314 billion. Of these, external assets in freely convertible  currency account for the major share of $ 2.307 billion, and the  SDR's share in the IMF was $ 7.2 million.  According to the  regulator's report, for the year the value of the BMP increased by  4.5%(versus 24,2% growth in 2016), the external assets in freely  convertible currency increased by the same amount, and the share of  SDR within the year grew 1.6-fold (versus 21,8% growth in 2016). In  quarterly terms the following dynamics was registered: in Q1 2017 BMP  declined by 6,9% amid decline of SDR share in IMF by 97,1%. In Q2 BMP  decline slackened to 1,8% amid growth of SDR share in IMF 73-fold. In  Q3 BMP increased 3,8%, amid almost similar growth of external assets  in freely convertible currency and fall of SDR share in IMF  87.9%.   In Q4 gross international reserves increased by 9.5% (with a similar  increase in external assets in freely convertible currency), and the  share of SDR in the IMF - 8 fold.

The share of bank gold in Armenia's gross international reserves was  zeroed in December 2003.