YEREVAN, June 3. /ARKA/. Overall deposits in Armenia’s commercial banks in 2016 April fell by 1.4% from the previous month to 1.986.6 trillion drams, the Central Bank said. It said also resident deposits fell by 1.13% from March to 1.548.3 trillion drams.

The decline in resident deposits is attributed to the reduction in foreign currency deposits, in particular, corporate demand deposits.

Thus, foreign currency deposits decreased by 3% in April to the equivalent of 966.9 billion drams with demand deposits reducing by 5.1% to the equivalent of 234.6 billion drams. In particular, foreign currency demand deposits of enterprises decreased by 10% to 118.6 billion drams, and those of households  by  0.6% to 96.6 billion drams.

Term foreign currency deposits declined by 2.3% to the equivalent of 732.3 billion drams. Corporate deposits decreased by 2.31% to the equivalent of 61.5 billion drams, while household deposits fell by  2.4% to the equivalent of 637.7 billion drams.

Also resident deposits in drams  increased by 2.2% in April to 581.3 billion drams. Non-residents deposits in April stood at 438.4 billion drams, having decreased by 2.4% over the month.

It should be noted that interest rates on dram deposits ranged from 10.77% to  13.73% depending on their terms, while interest rates on deposits in foreign currency ranged from 5.27% to 7.7%. ($ 1 - 478.61 drams). -0-