David Harutyunyan

Armbanks Site Visitor’s Question:
“What will USD exchange rate be later this year and in 2010?”

David Harutyunyan, Deputy Executive Director of Araratbank, is answering the question:

“One US dollar is expected to cost 380 drams later this year. It is very difficult to make financial forecasts for 2010, but I think that Armenian monetary authorities are taking proper steps to safeguard stability on the country’s foreign exchange.”

Valery Ovsyannikov

Armbanks Site Visitor’s Question:

“Where can an individual deposit 2,000,000 drams for one month?”

Valery Ovsyannikov, Director General, Chairman of Directorate of VTB Bank (Armenia), is answering the question:

“Dear depositor. Taking into account the present stability of Armenian banking system as a whole, you, in your particular case, can deposit up to 2 million drams for one month in a bank offering the highest interest rate. You can do it without hesitation, especially because banking deposits up to 2,000,000 drams are safeguarded by the Armenian law.

I can propose you to pay your attention, for example, to the VTB-Express time deposit that can be made by individuals in all the branches of VTB Bank Armenia for terms ranging from 15 days to three months.

It is a different matter if you will want to enlarge the deposit later, prolong the term, keep it in another currency or choose another way to get income from investing your money.

In such an event, literate depositors are guided by other criteria, such as reliability, status, image and brand of a bank, its indicators as well as market and system positions, its membership in large financial groups, participation in international financial and investment programs etc.

In any case, VTB Bank (Armenia) can advice you how to choose up-to-date banking services, products and instruments.
Thanks for attention.”