HSBC Bank Armenia doesn’t expect significant changes of currency rates in the market
18.03.2011,
20:34
HSBC Bank Armenia doesn’t expect significant changes of currency rates in the market in the result of toughening monetary-credit policy by CB Armenia, said deputy general executive director, operational director of financial markets Irina Seylanyan.
YEREVAN, March 18. /ARKA/. HSBC Bank Armenia doesn’t expect significant changes of currency rates in the market in the result of toughening monetary-credit policy by CB Armenia, said deputy general executive director, operational director of financial markets Irina Seylanyan in the press-conference on Friday.
Mentioning that high inflation is registered in the country, Seylanyan said that CB conducts right policy on toughening monetary-credit policy which can help to restrain inflation.
In February 2011 inflation of 1.9% was registered in Armenia. In its result inflation in 12 months was 12.4%. With the purpose of restraining the inflation, CB Board increased refunding rate by 0.5 percent points on march 4 defining it in the amount of 8.25%.
Seylanyan said that increase of refunding rate can promote significant increase of percent rates. In January, percent rate of long-term credits in drams for physical entities increased by 0.1 p.p. making 18.7%, average percent rate of foreign currency credits – 0.7 p.p. making 16.9% versus December.
January, percent rate of long-term credits in drams for legal entities reduced by 0.7 p.p. making 13.6%, average percent rate of foreign currency credits increased by 0.3 p.p. making 12.7% versus December. -0-
Mentioning that high inflation is registered in the country, Seylanyan said that CB conducts right policy on toughening monetary-credit policy which can help to restrain inflation.
In February 2011 inflation of 1.9% was registered in Armenia. In its result inflation in 12 months was 12.4%. With the purpose of restraining the inflation, CB Board increased refunding rate by 0.5 percent points on march 4 defining it in the amount of 8.25%.
Seylanyan said that increase of refunding rate can promote significant increase of percent rates. In January, percent rate of long-term credits in drams for physical entities increased by 0.1 p.p. making 18.7%, average percent rate of foreign currency credits – 0.7 p.p. making 16.9% versus December.
January, percent rate of long-term credits in drams for legal entities reduced by 0.7 p.p. making 13.6%, average percent rate of foreign currency credits increased by 0.3 p.p. making 12.7% versus December. -0-
