The level of dollarization in Armenia is slowly decreasing due to the growing confidence in the national currency, Head of the Department of Stability and Development of the Financial System of the Armenian Central Bank Andranik Grigoryan told reporters on Tuesday.

According to him, this is evidenced by the growth of the population's dram deposits, which prevails over the dollar growth rates. 

He noted that in 2009 and 2014 people used to keep their savings in drams more than in dollars.

According to him, the outflow of deposits in the financial system is not fixed, while the use of ‘capital outflow’ term is incorrect here.

“On the contrary, the level of capitalization, especially in the financial sector of Armenia, has only increased in recent years,” Grigoryan said.