EUR Base Rate is equal to the Main Refinancing Operations Fixed Rate announced by the European Central Bank (ECB Main Refinancing Operations Fixed Rate) plus a fixed margin. ECB Main Refinancing Operations Fixed Rate is always published on the European Central Bank's web-site:

http://www.ecb.europa.eu/stats/monetary/rates/html/index.en.html

Notice Regarding the Amendment of the Interest Rate Calculated in Euro (EUR)

On June 11, 2025, the refinancing rate set by the European Central Bank (ECB) was decreased by 2.35 percentage points, reaching an annual rate of 2.15%. Thus, since the Bank’s last revision of the euro-based reference interest rate on September 29, 2023, the ECB refinancing rate has declined by a total of 2.35 percentage points, which serves as the basis for the Bank’s review of its euro-based reference interest rate.

At the same time, the results of the analysis of market interest rates indicate that the Bank’s most recent revision of the euro-based reference interest rate has not had a significant impact on euro interest rates in the Armenian market.

Considering the above and aiming to respond to changes in interest rates recorded in the international market, the Bank has decided to set the value of the ECB refinancing rate component of the euro-based reference interest rate at 2.15%. Simultaneously, taking into account that no significant decrease in interest rates has been observed in the Armenian market, the Bank has decided to revise the value of the other component — the fixed margin — setting it at 6.85%.

As a result of this revision, the value of the euro-based reference interest rate remains unchanged at 9.00%.

Date of revision of the base interest rate in EUR: September 29, 2025.

The effective date of the revised rate is November 15, 2025.

AMD Base Rate - 10%, where the Refinancing (Repo) Rate announced by the Central Bank of Armenia is 8.00% and the fixed margin is 2.00%.

USD Base Rate - 9.75%, where US Federal Funds Target Rate (rate announced by the US Federal Reserve - Central Bank of the United States of America) is 4.00% and the fixed margin is 5.75%.

EUR Base Rate - 9.00%, where the Main Refinancing Operations Fixed Rate announced by the European Central Bank (ECB Main Refinancing Operations Fixed Rate) is 4.50% and the fixed margin is 4.50%.

AMD Base Rate - 10%, where the Refinancing (Repo) Rate announced by the Central Bank of Armenia is 8.00% and the fixed margin is 2.00%.

USD Base Rate - 9.75%, where US Federal Funds Target Rate (rate announced by the US Federal Reserve - Central Bank of the United States of America) is 4.00% and the fixed margin is 5.75%.

EUR Base Rate - 9.00%, where the Main Refinancing Operations Fixed Rate announced by the European Central Bank (ECB Main Refinancing Operations Fixed Rate) is 2.15% and the fixed margin is 6.85%.