Level of dollarization in Armenia in 2014 grew to 72% from previous year
26.05.2015,
17:13
The level of dollarization in Armenia in 2014 grew slightly from the previous year to 72%, according to Andranik Grigoryan, head of a Central Bank department on stability and development of financial system.
YEREVAN, May 26. / ARKA /. The level of dollarization in Armenia in 2014 grew slightly from the previous year to 72%, according to Andranik Grigoryan, head of a Central Bank department on stability and development of financial system.
Speaking to reporters today, he said some 72.6% of deposits in the local banks in late 2104 were in US Dollars, up from 71% in 2013, while the share of lending in foreign currency grew last year to 67.5% from 63.8% in 2013.
He said the high level of lending in USD was the result of high level of deposits in USD. According to him, indicators characterizing the level of lending and deposits in USD is showing a mild growth trend.
According to the Central Bank, the total deposits of residents in the Armenian banks in December 2014 stood at 1.319.7 trillion drams, of which the equivalent of 846.7 billion drams were in foreign currency and 472.9 billion in Armenian drams.
The overall lending in 2014 was worth about 2.1 trillion drams, of which the equivalent of 1.376.5 trillion drams were loans provided in foreign currency, and 714.8 billion drams were provided in the Armenian national currency. ($ 1 - 478.32 drams). -0-
