Director of NASDAQ OMX Armenia Armen Melikyan said that the launch of overnight credits market is among achievements of the stock exchange.

The volume of interbank overnight credits provided via the NASDAQ OMX Armenia credit market since its launch stood at AMD 576 billion. A total of 1,700 deals were concluded, Melikyan told a press conference in Yerevan.

“In April 2010, the average weighted interest rate totaled 10.43%, decreasing to 5.1% in December,” Melikyan said, adding that the maximum rate for overnight credits totaled 12%, while minimum was 2%.

Credits provided in the NASDAQ OMX Armenia credit market are denominated in Armenian Drams, with lenders and borrowers being the Armenian banks.