Armenian dram revaluates, as forex transactions on NASDAQ OMX Armenia grow

The growth in forex transactions on NASDAQ OMX Armenia and the downward trend on the interbank forex market have relatively appreciated the Armenian Dram (AMD).  

 

On June 15-19, NASDAQ OMX Armenia saw a 2.5-fold rise in transactions amid 20% decline in the operations on the interbank forex market. This week the AMD/USD exchange rate dropped from 476.5 to 473.3 AMD/$1 in average.  

 

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 $24.6 mln at the average exchange rate of 473.56 AMD/$1. The biggest amount was registered on Thursday and Friday - $12.550 mln and $9.2 mln, respectively. The transactions on the interbank forex market totaled $2 mln at the average exchange rate 475.06 AMD/$1.  

 

The source says that on 15-19 June 2015 on the intrabank forex market (transactions with customers) the banks bought $89.64 mln  (a 25% growth vs past week) at the average exchange rate of 473.93 AMD/$1, and sold $87.75 mln at the average exchange rate of 475.45 AMD/$1. During the same period, the banks bought 8.04 mln EUR (a 43% growth vs last week) at the average exchange rate of 533.36 AMD/1EUR, and sold 9.3 mln EUR at the average exchange rate of 538.01 AMD/1EUR. 

 

The banks also bought 1.012 mln RUR (a 26% growth vs week) at the average exchange rate of 8.66 AMD/1RUR, and sold 171.6 mln RUR (a 16% decline vs past week) at the average exchange rate of 8.85 AMD/1RUR.  Last week (8-14 June) the Armenian banks provided AMD loans worth 33.8 bln AMD and USD loans worth $32.7 mln. As compared with the previous week (8- 12 June), the AMD loans grew 7%, while the USD loans fell by 17.6%.