YEREVAN, April 3, / ARKA /. The cost of short-term loans provided by Armenian banks in the national currency, the dram, has increased, according to data of the Central Bank of Armenia.

For example, interest rates on loans with a repayment period of up to 12 months increased by 1.6 percentage points in 2015 February when compared to February 2014. If compared with the beginning of this year they were up 2.5 percentage points standing at 18.71%. As for loans in USD, their interest rates did not change compared to 2014 February, but when compared to the beginning of this year they increased by 0.74 percentage points

The rise occurred after the Central Bank raised its key refinancing rate to 10.5% and amid reducing liquidity in dram that was prompted by the Central Bank’s decision to toughen the reserve requirement in foreign currency.

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Tags: Armenia, Central Bank of Armenia, short-term loan

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