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JAVADYAN: $700MLN ACCUMULATED IN ARMENIAN BANKS
ARKA
March 3, 2009
YEREVAN
Total volume of currency accumulated by Armenian banks amounts to
$700mln, said Chairman of the Central Bank of Armenia (CBA) Artur
Javadyan.
"From the beginning of the crisis up to now, the capital of Armenian
banks increased by 40bln AMD and liquidity by $280mln. Today liquidity
of banks amounts to $700mln, which means today currency accumulated
in banks amounts to $700mln," he told reporters on Tuesday.
Besides, Javadyan noted banks managed to attract some $250mln of
long-term credit means from well-known international financial
institutions without any state intervention.
He stated the monetary and credit policy aimed at solving issues of
financial stability gave significant results and stressed it will
soon be aimed at ensuring stability of prices.
"Our interventions in stock exchange will be minimal and will have
a nature of soothing sharp currency changes," he explained.
On Tuesday, the CBA made a decision to abridge its interventions in
the foreign exchange market, returning to the policy of the floating
exchange rate. The CBA experts forecast that the "average weighed
U.S. dollar exchange is expected to range from 360 drams to 380 drams
per $1".
ARKA
March 3, 2009
YEREVAN
Total volume of currency accumulated by Armenian banks amounts to
$700mln, said Chairman of the Central Bank of Armenia (CBA) Artur
Javadyan.
"From the beginning of the crisis up to now, the capital of Armenian
banks increased by 40bln AMD and liquidity by $280mln. Today liquidity
of banks amounts to $700mln, which means today currency accumulated
in banks amounts to $700mln," he told reporters on Tuesday.
Besides, Javadyan noted banks managed to attract some $250mln of
long-term credit means from well-known international financial
institutions without any state intervention.
He stated the monetary and credit policy aimed at solving issues of
financial stability gave significant results and stressed it will
soon be aimed at ensuring stability of prices.
"Our interventions in stock exchange will be minimal and will have
a nature of soothing sharp currency changes," he explained.
On Tuesday, the CBA made a decision to abridge its interventions in
the foreign exchange market, returning to the policy of the floating
exchange rate. The CBA experts forecast that the "average weighed
U.S. dollar exchange is expected to range from 360 drams to 380 drams
per $1".