Central Bank lowers reserve requirements in national currency from 4% to 2 %

24.02.2014 20:14
Central Bank lowers reserve requirements in national currency from 4% to 2 %

YEREVAN, February 24. / ARKA /. Armenia’s Central Bank has lowered the reserve requirement in the national currency, the dram, from 4% to 2 % late last year as part of easing its monetary policy.

The regulator said also in a report that it intends to continue easing its monetary policy throughout 2014, to be stimulated , in particular, by its decision last December 24 to reduce the reserve requirement in drams from 4% to 2%. Last time the Central Bank did so was in 2013 April when it lowered the indicator from 12% to 8%.

As part of its strategy to weaken the monetary policy the Central Bank in February cut its key refinancing rate from 7.75% to 7.5% According to the Central Bank’s regulation, the minimum reserve requirement in foreign currency did not change standing at 12%. -0-


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