YEREVAN. – As a result of foreign currency transactions, Armenia’s banking system gained an AMD 13.7-billion (approx. US$ 37 million) profit in 2011, the Central Bank report informs.  

Also, and due to fluctuations in the foreign currency exchange rates, the earnings reached AMD 52 million (approx. $ 132,946). At the same time, thirteen banks registered losses, whereas eight banks recorded profits.   

In line with the Bank’s assessment, the banks’ foreign currency risk-related losses are insignificant, and their impact on the vulnerability of financial stability is small.