YEREVAN, October 24. /ARКА/. Armenian Central Bank's forex reserves stand now at record $487.7 million, Prime Minister Nikol Pashinyan told the parliament today. He said the regulator replenished the forex reserves to this 'unprecedented' level after buying a substantial amount of foreign currency.

'This is a very important indicator, because we had concerns and suggestions that after the end of the tourism season we were going to have a downward trend. But we are getting signals that the tourism season may last 12 months and these are very positive messages," said Pashinyan.

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Reserves at Armenia’s banks for possible losses on loans totaled AMD 147.7 billion in 2018 – 6.12% or AMD 8.5 billion more than in 2017

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Reserves for possible losses at banks of Armenia totaled AMD 149.5 billion in Jan-Sept 2018 showing a 27.4% growth, compared with the same period a year before

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Armenian banks increased their reserves for possible loan losses by 17.7% in the first 9 months of 2017 to 177.3 billion drams, according to ARKA news agency’s bulletin ‘Banks of Armenia” for the third quarter of 2017

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In the first quarter of 2017 Armenia-based commercial banks increased their reserves for possible credit losses by 18.9 billion drams or 22.7% from the year before to 102.7 billion drams

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Armenia’s gross international reserves totaled $1 626.27 million in late March after shrinking 8.3% or by $149 million over the first quarter, the Central Bank of Armenia says in its preliminary report

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The IMF recommends the Central Bank of Armenia to buy dollars by this summer to prevent serious fluctuations in the forex market and to ensure the required buffer reserves, the head of the IMF mission in Armenia Mark Horton told reporters on Wednesday

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Armenia’s gross international reserves fell by 33.8% or $762.3 million $1,489.3 million in December 2014, as compared to the beginning of the year, says the central bank

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Armenia’s gross international reserves meet all sufficiency criteria more than needed, the Central Bank of Armenia says in its ‘Adequacy of Armenia’s International Reserves’ study

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Loan loss reserves of Armenia’s commercial banks rose by 37% to 50.9 billion drams in the first half of this year, as compared to H1 2013

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