YEREVAN, March 1. /ARKA/. Armenian money supply dropped 2.7 % or 30.9 billion drams, to 1.096.1 trillion drams at the end of January, 2012, from December, National Statistical Service reported ARKA.

Cash volume outside the banking system of Armenia totaled nearly 319 billion drams at January –end against 349.4 billion drams at the end of December, and demand deposits in drams amounted to 154.8 billion drams against 164.4 billion drams from December, according to preliminary data compiled by the Central Bank of Armenia.Time deposits in drams reached over 145.7 billion drams in late January against 145.6 billion drams in late December.

Along with this, deposits in foreign currency accounted to over 476.7 billion drams in January against over 467.5 billion drams in late December. The share of deposits in foreign currencies in the country’s total money supply totalled 43.5% in January. At the same time money multiplier increased by 0.24 point to 1.92 by late January. —0--

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Areximbank-Gazprombank Group launches money transfer from Russia to Armenia.

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The Russian-owned Areximbank-Gazprombank Group said today it has joined Blizko international system of instant money transfers for individuals without account opening.

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Money supply in 2011 November grew by 2.7% to about AMD 1.071 trillion.

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Individual money transfers to Armenia in the first ten months of 2011 through commercial banks surged by 23.9% or $292 million year-on-year to about $1.6 billion, the Central Bank of Armenia said in a statement, posted on its official website.

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Armenia’s Central Bank said today the country’s monetary base has dropped by more than 6 billion drams (or 1%) in September to around 587 billion drams.

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Individual money transfers to Armenia in January-July 2011 surge by 25% to more $772.4 million.

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Bank VTB (Armenia) launched today VTB-transfer, a unique special service for its clients who periodically receive money transfers from abroad.

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Volume of money supply by the end of May 2011 increased by 25.2 billion drams or 2.7% compared with April 2011 making about 948.6 billion drams.

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In 2010 May the money base in Armenia decreased by 10.8 billion drams, or 2.2% compared to the previous month, amounting to about 488.9 billion drams.

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