Given the Stock Passive Status Interbank alone Cannot keep AMD from Devaluation

ArmInfo. The stock interbank activity has somehow strengthened the AMD but not for long.  The stock was passive on July 17-21 except for Thursday providing some tinsy volume. On Aug 17-21 the volume of stock deals reduced by more than 32-fold with the depreciation of the AMD seen in July within the range of AMD 474 to AMD 478/USD 1, after insignificant fluctuations reached the threshold of AMD 479/USD 1 in the first half of August.  By Aug 21 it was 478,5 /USD 1.

On Aug 17-21, on the intrabank market (transactions with customers) the banks bought $74.9 mln at the average exchange rate of 476,63 AMD/$1, and sold $86.1 mln at the average exchange rate of 478,19 AMD/$1 (almost 6.2% growth within a week). The banks also bought 6.96 mln EUR at the average exchange rate of 528,28 AMD/1EUR (weekly fall of 13.6 %), and sold 11.9 mln EUR at the average exchange rate of 534 AMD/1EUR. Over the same period, the banks bought 1.1 bln RUR at the average exchange rate of 7,17AMD/1RUR (weekly growth of 12.7%), and sold 296.8 mln RUR at the rate of 7,28 AMD/1RUR (9.6% growth within a week).  Over the previous week (from Aug 10-16), the Armenian banks provided AMD loans worth 35.6 bln AMD and USD loans worth $34.6 mln.  As compared to the previous week Aug 3-9, the AMD loans increased by 16% whereas USD loans decreased by 36%.