YEREVAN, March 29, / ARKA /. The Central Bank of Armenia (CBA) said commercial banks’ deposits grew by 3.1% in February from January to a total of 718.9 billion Drams. According to CBA, Armenian residents’ deposits stood at 602.4 billion Drams making 83.8% of the total amount and non-residents deposits stood at 116.5 billion Drams or 16.2% of the total amount.

Judging from the report, residents preferred deposits in foreign currency, which at the end of February comprised, if denominated in Armenia’s national currency, 392.1 Drams or 54.5% of all deposits, by 1.4% more than in January. Deposits in Drams comprised 210.3 billion or 45.5%, by 5.2% more than in January. Non-residents also preferred deposits in foreign currency which stood at 109.1 billion Drams and 7 billion were in Drams. ($1 – 368.09 Drams).-0-