YEREVAN. – The dollarization level in Armenia has started to fall in October 2012.

The dollarization indicator dropped in all five directions, and this is a first time in the current year, the Central Bank bulletin reports. 

But overall, the present-day dollarization level in Armenia is much higher than in late 2011. 

The highest level of dollarization in the country is still in the term deposits of individuals. A total of 74.3 percent of the current term deposits are kept in foreign currency. However, solely 54.3 percent of the demand deposits are in foreign currency.   

In general, 62.6 percent of all bank deposits in Armenia are still kept in foreign currency.

Most bank loans—that is, 63.7 percent—likewise are provided in foreign currency. Even though, this indicator did not exceed 60 percent in the year past, it reached a record high of 64 percent in June 2012.