Foreign currency operations

“ARMECONOMBANK” OJSC offers an alternative way of funds investment-unallocated gold accounts. Gold account is opened and maintained bank account on the purpose of cashless gold accounting and signing cashless gold transactions. For which only the weight and fineness are indicated, without gold’s other personal data.

Unallocated gold accounts offer you the opportunity to diversify your savings and to use these benefits:
Decrease of the impact of currency exchange rate fluctuations,
Avoid the risk of loss or damage of gold,
Avoid time loss of performing material gold sale and purchase,
Avoid additional expenses for material gold preservation and transportation,
Avoid possible fraud during material gold purchase.

Terms and conditions of opening and maintenance of unallocated accounts in “ARMECONOMBANK” OJSC:
Metal accounts are opened for individuals and corporate entities,
Accounts are opened with 999.9 gold,
The accounting of the cashless gold in the metal accounts is made in grams, with 0.01 gram precision,
The Bank determines foreign exchange rates from the sale and purchase of 1 gram cashless gold through which transactions via accounts are performed,
The metal account transactions do not presuppose cash debiting and crediting of gold.
Tariff of unallocated metal account
Annual service fee AMD 5,000
Minimum debit/minimum size of transaction with the account 1 gram
Accrued interest against the balance 0%
Transfers out of “ARMECONOMBANK” OJSC As of the moment of transferred metal quantity transaction performance in the foreign exchange rate defined by CBA of the calculated amount 0.1% min AMD 15,000
Transfers in “ARMECONOMBANK” OJSC 0
Debiting of transferred amounts to the account AMD 5,000
Attention! Annual service fee isn't charged from the metal account, if the account balance is zero.
  • Cash exchange rates
  • None cash exchange rates
  • Preferential exchange rates for international transfers
  • Card exchange rates
  • Gold bar prices
  • Commission of cash withdrawal and input to account

Cash exchange rates

Currency Buy Sell CB of RA
USD480.50484.50484.11
EUR562.00570.00570.43
CHF477.00490.00489.30
GBP633.00651.00646.00
RUB8.088.258.23
GEL174.00194.00184.77
Last modified: 13/12/2017 15:20

None cash exchange rates

Currency Buy Sell
USD480.50484.50
EUR562.00570.00
GBP636.00654.00
CHF480.00493.00
RUB8.108.25
GEL172.00194.00
XAU18700.0020100.00
Last modified: 13/12/2017 15:20

Preferential exchange rates for international transfers

Currency Buy
USD481.00
EUR563.00
RUB8.10
Last modified: 13/12/2017 15:20

Card exchange rates

Currency Buy Sell
USD480.50486.50
EUR561.00575.00
RUB8.018.38
Last modified: 13/12/2017 15:20

Gold bar prices

Unit Selling price
1 գրամ29400
2 գրամ
5 գրամ122500
10 գրամ219800
20 գրամ428100
50 գրամ1043000
100 գրամ2050000
Last modified: 13/12/2017 15:20

Commission of cash withdrawal and input to account

Currency Input Withdrawal
GBP2%2%
RUB0.25%0%
CHF2%2%
Last modified: 13/12/2017 15:20
Necessary documents for private entrepreneurs
  1. Passport,
  2. Social card (RA resident),
  3. Certificate of private entrepreneur (the original and a copy) and the stamp (if any) (required only from private entrepreneur),
  4. Tax code (the original and a copy) (required only from private entrepreneur)
  5. In case the insolvent private entrepreneur opens an account, the liquidator submits to the Bank the decision on liquidation and appointment by the relevant competent body,
  6. A notarized power of attorney for the disposal of funds held in the account.
Necessary documents for legal entities

For the use of investment and not main services provided by the Bank, the manager, chief accountant (if any) shall visit the Bank, as well as persons endowed with the right of signature bringing with them the company's round seal and the following documents:

  1. Identification document,
  2. State registration certificate of corporate entity (the original and 1 copy),
  3. Charter (original and 1 copy bound and sealed "True copy")
  4. Tax code (original and 1 copy)
  5. Extracts and approved copies of resolutions of entering into office of the manager, chief accountant (if any), and other authorized officials, and in case of the manager, the copy of resolution (minutes) of his appointment by an authorized body. Copies of resolutions are not demanded, if the above mentioned persons are registered in the submitted state registration certificate. In case of non-resident legal entities, a relevant document confirming entering into the office of the manager, chief accountant, and other persons authorized to sign.
  6. In case of account opening for liquidated (under insolvency process) corporate entity liquidation manager shall submit the relevant competent authority's decision on liquidation (insolvency).
Opening account for Individuals
  1. Identification document,
  2. Social card (RA residents).
“ARMECONOMBANK” OJSC offers an alternative way of funds investment-unallocated gold accounts. Gold account is opened and maintained bank account on the purpose of cashless gold accounting and signing cashless gold transactions. For which only the weight and fineness are indicated, without gold’s other personal data.

Unallocated gold accounts offer you the opportunity to diversify your savings and to use these benefits:
Decrease of the impact of currency exchange rate fluctuations,
Avoid the risk of loss or damage of gold,
Avoid time loss of performing material gold sale and purchase,
Avoid additional expenses for material gold preservation and transportation,
Avoid possible fraud during material gold purchase.

Terms and conditions of opening and maintenance of unallocated accounts in “ARMECONOMBANK” OJSC:
Metal accounts are opened for individuals and corporate entities,
Accounts are opened with 999.9 gold,
The accounting of the cashless gold in the metal accounts is made in grams, with 0.01 gram precision,
The Bank determines foreign exchange rates from the sale and purchase of 1 gram cashless gold through which transactions via accounts are performed,
The metal account transactions do not presuppose cash debiting and crediting of gold.
Tariff of unallocated metal account
Annual service fee AMD 5,000
Minimum debit/minimum size of transaction with the account 1 gram
Accrued interest against the balance 0%
Transfers out of “ARMECONOMBANK” OJSC As of the moment of transferred metal quantity transaction performance in the foreign exchange rate defined by CBA of the calculated amount 0.1% min AMD 15,000
Transfers in “ARMECONOMBANK” OJSC 0
Debiting of transferred amounts to the account AMD 5,000
Attention! Annual service fee isn't charged from the metal account, if the account balance is zero.
  • Cash exchange rates
  • None cash exchange rates
  • Preferential exchange rates for international transfers
  • Card exchange rates
  • Gold bar prices
  • Commission of cash withdrawal and input to account

Cash exchange rates

Currency Buy Sell CB of RA
USD480.50484.50484.11
EUR562.00570.00570.43
CHF477.00490.00489.30
GBP633.00651.00646.00
RUB8.088.258.23
GEL174.00194.00184.77
Last modified: 13/12/2017 15:20

None cash exchange rates

Currency Buy Sell
USD480.50484.50
EUR562.00570.00
GBP636.00654.00
CHF480.00493.00
RUB8.108.25
GEL172.00194.00
XAU18700.0020100.00
Last modified: 13/12/2017 15:20

Preferential exchange rates for international transfers

Currency Buy
USD481.00
EUR563.00
RUB8.10
Last modified: 13/12/2017 15:20

Card exchange rates

Currency Buy Sell
USD480.50486.50
EUR561.00575.00
RUB8.018.38
Last modified: 13/12/2017 15:20

Gold bar prices

Unit Selling price
1 գրամ29400
2 գրամ
5 գրամ122500
10 գրամ219800
20 գրամ428100
50 գրամ1043000
100 գրամ2050000
Last modified: 13/12/2017 15:20

Commission of cash withdrawal and input to account

Currency Input Withdrawal
GBP2%2%
RUB0.25%0%
CHF2%2%
Last modified: 13/12/2017 15:20
Necessary documents for private entrepreneurs
  1. Passport,
  2. Social card (RA resident),
  3. Certificate of private entrepreneur (the original and a copy) and the stamp (if any) (required only from private entrepreneur),
  4. Tax code (the original and a copy) (required only from private entrepreneur)
  5. In case the insolvent private entrepreneur opens an account, the liquidator submits to the Bank the decision on liquidation and appointment by the relevant competent body,
  6. A notarized power of attorney for the disposal of funds held in the account.
Necessary documents for legal entities

For the use of investment and not main services provided by the Bank, the manager, chief accountant (if any) shall visit the Bank, as well as persons endowed with the right of signature bringing with them the company's round seal and the following documents:

  1. Identification document,
  2. State registration certificate of corporate entity (the original and 1 copy),
  3. Charter (original and 1 copy bound and sealed "True copy")
  4. Tax code (original and 1 copy)
  5. Extracts and approved copies of resolutions of entering into office of the manager, chief accountant (if any), and other authorized officials, and in case of the manager, the copy of resolution (minutes) of his appointment by an authorized body. Copies of resolutions are not demanded, if the above mentioned persons are registered in the submitted state registration certificate. In case of non-resident legal entities, a relevant document confirming entering into the office of the manager, chief accountant, and other persons authorized to sign.
  6. In case of account opening for liquidated (under insolvency process) corporate entity liquidation manager shall submit the relevant competent authority's decision on liquidation (insolvency).
Opening account for Individuals
  1. Identification document,
  2. Social card (RA residents).
Last modified on Wednesday, 15 July 2015 11:03