Կենտրոնական բանկ

B O A R D  O F  T H E  C E N T R A L  B A N K

O F  T H E  R E P U B L I C  O F  A R M E N I A

R E S O L U T I O N

        18 November 2025, No. 207 L

 ON APPROVING THE INVESTMENT POLICY OF THE INTERNATIONAL RESERVES OF THE REPUBLIC OF ARMENIA

 For the purpose of increasing the efficiency, transparency, and compliance with international best practices of the management of the international reserves of the Republic of Armenia;

Based on Article 5, Part 2, Point "f," Article 20, Points "e" and "n," and Article 52 of the Law "On the Central Bank of the Republic of Armenia," the Board of the Central Bank of the Republic of Armenia hereby:

 R E S O L V E S: 

1. To approve the investment policy for the management of the international reserves of the Republic of Armenia, according to Appendix
2. This Resolution shall enter into force from 28 November 2025.
3. The changes in management limits approved by this Resolution shall not apply to the open positions existing in the international reserves of the Republic of Armenia at the time of the entry into force of the Resolution.

 Governor of the

Central Bank of the Republic of Armenia                         Martin Galstyan

                     Yerevan                                           

.