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International reserves of Armenia reduce

International reserves of Armenia reduceJuly 03, 2012 | 00:43

YEREVAN. – As of May, 2012, the international reserves of Armenia totaled to $1.67 billion, the report of Armenia’s Central Bank states.

Compared to January 2012, the international reserves reduced by $ 150 million. It is possible that this is a consequence of interventions in the financial market which are being made to prevent the sharp depreciation of the Armenian dram. $ 1.53 billion or 80 percent of the reserves are presented in the form of securities.

Compared to January, an increase of approximately $ 120 million was observed in the portfolio.

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