Armenia remains without gold reserves

Armenia remains without gold reserves

The gold reserves of Armenia are equal to zero, the Deputy Chairman of the Central Bank of Armenia, Nerses Yeritsyan, said. He explained that the current composition of reserves allows the Central Bank to achieve its objectives - to provide a sufficient level of reliability and profitability of reserves.

It makes no sense to invest in a resource "of lower or fluctuating profitability", as it may create a problem of liquidity for the Central Bank,  Armenia Today cited Yeritsyan as saying.

According to him, "it would be wrong to buy gold on the international markets."