350.3 BLN WORTH BANKNOTES, COINS PUT INTO CIRCULATION IN LATE 2007

ARKA
May 16, 2008

YEREVAN, May 16. /ARKA/. The Central Bank of Armenia (CBA) says
350.3bln drams worth banknotes and coins were in circulation in
Armenia in late 2007 54.4% increase as compared to early 2007.

The share of non-bank cash was 47.2% in total money supply last
year against 43.5% in 2006. Both cash balance and money circulation
hit a record high of 35.7% in the reporting period. Last year,
CBA territorial cash offices ensured 25.1% growth of total cash
circulation against 18.9% in 2006.

Notes for 20,000 and 50,000 drams secured cash balance growth outside
CBA, with their share rising 2.5pct and 1.8pct correspondingly.

Circulation of notes for 10,000 drams increased by 26.6% in 2007. Notes
for 5,000, 10,000 and 20,000 drams had the lion’s share in cash
circulation last year (85% against 83% in 2006).

During the reporting period, coin circulation grew 17% with 34%
increase of 500 drams. ($1 – AMD 307.58)