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Demand for dollar loans sharply increases in Armenia
January 14, 2012 | 02:48
YEREVAN. - Ever since the end of last December, there is a sharp
increase, in Armenia's financial market, in the demand for US dollar
loans. Starting from December 26, the banks provided an average of
approximately $105-million loans, per week, which surpasses last
year's indicator virtually twice. And the primary reason for this is
the expectation that the Armenian dram will devalue.
But the volume of Armenian-dram loans is also on the rise, with an
equivalent of close to $90 million, per week. And this is a result of
more economic activity towards the New Year and the reduction in loan
interest rates.
The volume of foreign currency trading in Armenia's financial market
is on a high level, too. In the last week of December, for example,
the banks purchased $138 million and sold $166 million, which is an
unprecedented indicator. And in the first ten days of January, they
purchased $85 million and sold $115 million.
News from Armenia - NEWS.am
January 14, 2012 | 02:48
YEREVAN. - Ever since the end of last December, there is a sharp
increase, in Armenia's financial market, in the demand for US dollar
loans. Starting from December 26, the banks provided an average of
approximately $105-million loans, per week, which surpasses last
year's indicator virtually twice. And the primary reason for this is
the expectation that the Armenian dram will devalue.
But the volume of Armenian-dram loans is also on the rise, with an
equivalent of close to $90 million, per week. And this is a result of
more economic activity towards the New Year and the reduction in loan
interest rates.
The volume of foreign currency trading in Armenia's financial market
is on a high level, too. In the last week of December, for example,
the banks purchased $138 million and sold $166 million, which is an
unprecedented indicator. And in the first ten days of January, they
purchased $85 million and sold $115 million.
News from Armenia - NEWS.am