Friday, March 14 2014 19:55
Continued devaluation of Armenian dram reduced currency operations at NASDAQ OMX Armenia by 37.1% on March 10-14
ArmInfo. On 3-9 March 2014, Armenian banks provided AMD loans worth 32.2 bln AMD and USD loans worth $49.7 mln. The press service of the Central Bank of Armenia has told ArmInfo that as compared with the previous week, AMD loans dropped by 19.2%, and USD loans dropped by 18.6%.
The source says that in the intrabank currency market (transactions with customers) the banks bought $75.1 mln on March 10-14 (up 3.3% versus the previous week) at the average exchange rate of 414.14 AMD/$1, and sold $95.7 mln (down 12.5%) at the average exchange rate of 415.45 AMD/$1. In the meantime, the banks bought 4.7 mln EUR (up 6.8%) at the average exchange rate of 573.38 AMD/1EUR, and sold 12.1 mln EUR (down 0.8%) at the exchange rate of 577.57 AMD/1EUR. The banks also bought 594.9 mln RUR (14.5% decline) at the average exchange rate 11.29 AMD/1RUR and sold 124.0 mln RUR (9.2% decline) at the exchange rate of 11.46 AMD/1RUR.
At NASDAQ OMX Armenia currency operations totaled $24.2 mln (37.1% decline) at the average exchange rate of 414.80 AMD/$1. The biggest amount of transactions was fixed on 11, 10 and 12 March - $11.250 mln, $5.1 mln and $4.8 mln, respectively.
Since early 2014, the share price of currency transactions has increased from 408 to almost 415 AMD/$1. In particular, on Jan 9-16 it dropped to 406 AMD/$1, followed by a rise to 410 AMD/$1 by Feb 3, to 414 AMD/$1 by Feb 28, and this indicator was exceeded on March 4.
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