Armenia’s banks prefer loans in dram

YEREVAN. – Between May 13 and 18, the banks in Armenia purchased $104.2 million and sold $116.9 million, the Central Bank informs.  

According to the same source, from May 6 to 12, the loans which the banks provided in Armenia’s national currency, the dram, amounted to the equivalent of approximately $65 million, whereas the US dollar loans made up $30.3 million.  

According to the Armenian News-NEWS.am sources, however, in recent weeks the banks recommend their clients to receive loans in US dollar and they more often turn down providing loans in drams. This is probably due to the current uncertainties concerning the inflation and the exchange rate.