Growth in forex transactions on NASDAQ OMX Armenia and on interbank market relatively appreciates Armenian Dram

The growth in forex transactions on NASDAQ OMX Armenia and the doubled amount of the operations on the interbank forex market have relatively appreciated the Armenian Dram (AMD). 

 

On June 8-12, NASDAQ OMX Armenia saw 4.3% rise in transactions amid more than twofold rise in the operations on the interbank forex market. This week the AMD/USD exchange rate dropped from 476.5 to 

475.3 AMD/$1 by Tuesday.  Afterwards, it rose again on Wednesday and remained at 477.3 AMD/$1 for two days and dropped to 477 AMD/$1 on Friday.

 

The press office of the Central Bank of Armenia (CBA) has told ArmInfo that over the period under review the forex operations on NASDAQ OMX Armenia amounted to $9.750 mln at the average exchange rate of 476.59 AMD/$1. The biggest amount was registered on Monday and Wednesday - $5.050 mln and $4 mln, respectively. The transactions on the interbank forex market totaled $2.5 mln at the average 

exchange rate 476.85 AMD/$1. 

 

The source says that on 8-12 June 2015 on the intrabank forex market (transactions with customers) the banks bought $72.35 mln at the average exchange rate of 475.90 AMD/$1, and sold $80.65 mln at the 

average exchange rate of 477.04 AMD/$1. During the same period, the banks bought 5.6 mln EUR at the average exchange rate of 532.45 AMD/1EUR, and sold 10 mln EUR at the average exchange rate of 537.45 AMD/1EUR. The banks also bought 804.3 mln RUR at the average exchange rate of 8.53 AMD/1RUR, and sold 204.6 mln RUR at the average exchange rate of 8.68 AMD/1RUR. 

 

Last week (1-7 June) the Armenian banks provided AMD loans worth 31.6 bln AMD and USD loans worth $39.7 mln. As compared with the previous week (25- 31 May), the AMD loans dropped by 1.9%, while the USD loans fell by 20.6%.