 Volume of overnight transactions makes AMD 750mln over five stock-exchange business days April 9, 2010 - 18:27 AMT PanARMENIAN.Net - Based on results of five stock-exchange business days, the volume of overnights provided to (and, accordingly, received by) banks-participants of the auctions totaled AMD750mln, the weighted average interest rate made 6.2% per year, CEO of NASDAQ OMX Armenia Armen Melikyan told a PanARMENIAN.Net correspondent. “Taking into consideration the fact that this instrument of stock-exchange is aimed at securing not only the transparency of the process of establishment of interest rates for overnight credits, but also at assisting banks in more efficient administration of financial resources, the stock exchange expects further increase in the volume of transactions at this platform,” noted he. The CEO added that the stock-exchange commissions for transactions at the credit market are set at the minimum level not to affect the cost of credit resources. Financial Director of HSBC Bank Armenia Gevorg Tarumyan reported that the bank is in process of signing an agreement on this instrument usage. “We plan to sign an agreement with NASDAQ OMX Armenia next week,” noted he. Mr. Tarumyan also noted that this tool will cause a reduction of short term Dram interbank rates. The platform for inter-bank overnight credits was launched by NASDAQ OMX Armenia stock-exchange on April 2, 2010.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news The Power of One Dram to benefit Road of Life charity  The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization.Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia.Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |
