Interest rates on bank deposits in drams decreased in 2016 January

24.02.2016 16:19
Interest rates on bank deposits in drams decreased in 2016 January

YEREVAN, February 24. / ARKA /. Interest rates on bank deposits in Armenia’s national currency, the dram, decreased in 2016 January when compared to the previous month, while interest rates on deposits in USD grew, according to the Central Bank of Armenia data.

In particular, interest rates on deposits in drams deposited for a term of up to 12 months fell by 0.74 percentage points to 13.35%, while rates on deposits with a term of more than 12 months dropped by 0.11 percentage points to 14.61%. At the same time interest rates on dollar deposits deposited up to one year increased by 0.52 percentage points to 6.17%, and on deposits deposited for more than a year - by 0.11 percentage points p to 7.16%.

Regarding interest rates on loans, in January 2016 they showed an upward trend. Thus, interest rates on loans in drams maturing in less than 12 months increased by 1 percentage point to 16.96%, and on loans with a maturity period of more than 12 months - by 2 percentage points to 18.69%.

At the same time interest rates on dollar loans maturing in less than 12 months decreased by 0.48 percentage points to 10% and on loans with a maturity period more than 12 months increased by 0.23 percentage points to 11.36%.

In December, the refinancing rate was reduced from 9.75% to 8.75%, in February it was cut to 8.5%. -0-


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