Under the circumstances of economic instability and general financial uncertainty, Armenians prefer to keep their savings in gold, according to Ameriabank CJSC development director.

At a news conference in Yerevan, Tigran Jrbashyan commented on dedollarization tendencies in Q3 2011, mostly sparked by the balanced monetary management of the Central Bank of Armenia. “However, in December 2011- January 2012, gold saving tendencies became more obvious,” the bank’s official noted.

“Ameriabank was the first in Armenian market to offer relevant services: metal bank accounts and gold structures deposits to facilitate gold savings for those unwilling to keep their funds in euros or dollars,” Jrbashyan noted.