Level Of Dollarization Reduces In Armenia

LEVEL OF DOLLARIZATION REDUCES IN ARMENIA

NEWS.AM
March 16, 2012 | 22:38

YEREVAN. – The level of dollarization reduced over a year, says the
report issues by Central Bank of Armenia as of January 2012.

In the report dollarization is determined by five main indicators:
four of them related to deposit ratio to various dimensions, and the
fifth – concerning credit market. As to deposits, the dollarization
level has reduced considerably.

Here are the main dollarization indicators over a year:

1. The share of foreign currency deposits in January 2012 made 43.7%
(45.5% in January 2011)

2. Although the share of foreign currency deposits remains high, 61.7%,
compared with the previous year, it decreased significantly (66.1%).

3. The share of demand foreign currency deposits decreased from 59.3%
in 2011 to 55.3%.

4. The share of foreign currency time deposit decreased from 79.5%
to 75.5%.

5. The share of foreign currency loans in January 2012 reached 61.1%
as compared with last year’s 56.8%.