Data published by the Central Bank of Armenia show that as of August 2026, the ratio of residents’ foreign-currency deposits and borrowings to money supply (D1) stood at 27.7%. That was 1.7 percentage points lower than the comparable reading in 2025.
The ratio of residents’ foreign-currency deposits and borrowings to their total deposits and borrowings (D2) also declined, falling by 2.4 percentage points to 32%.
The share of resident individuals’ foreign-currency demand deposits and borrowings in their total demand deposits and borrowings (D3) came in at 44.8%. According to the source, that was down 4.1 percentage points compared with March 2025.
The share of resident individuals’ foreign-currency time deposits and borrowings in their total time deposits and borrowings (D4) was 35.3%, down 6.3 percentage points from the comparable period of 2025. At the same time, the ratio of foreign-currency loans issued to residents to total loans (D5) increased by 0.3 percentage points to 31.7%.
The source notes that Armenia’s commercial banks and credit organizations continue to attract substantial funds from abroad. As a result, in order to avoid foreign-exchange risk, they seek to place those funds in the same currency in which they were raised.
