Smmer for AMD began with the devaluation

ArmInfo. The currency inter bank  of Armenia increased its volume only by 14.9% from May 29 to June 2,  after growing by 3.4% a week ago. In parallel with this, a  multidirectional trend of dollar and euro transactions was observed  on the intra-bank foreign exchange market, against which background  buying / selling of rubles demonstrated sharply rising dynamics. In  these conditions, the exchange currency market took a time-out.

As a result, in the reporting week, AMD versus dollar rebuilt from  strengthening to devaluation - from 481.5 to 482 AMD / $ 1, and, in  the same way, in relation to the euro - from 539 to 541 AMD / euro,  while weakening to the ruble 8.5 to 8.6 AMD / 1rub. A year ago, on  June 2, 2016, the exchange rate of AMD to the dollar was 478 AMD / $  1, to the euro - 536 AMD / euro, and to the ruble- 7,3 AMD / ruble,  which in comparison with the current rates indicates the annual  devaluation of AMD to these currencies.

As the press service of the Central Bank of Armenia told ArmInfo,  from May 29 to June 2, no transactions were made on the currency  platform of NASDAQ OMX Armenia. At the same time, transactions in the  amount of $ 10.341 million at the weighted average rate of 482.14 AMD  / $ 1 were made at the foreign currency inter bank for the reporting  week (versus  the previous 482.17). In particular, the inter bank  currency bank after activity in the first half of the week with a  maximum of $ 3.8 million on Wednesday, preferred to sharply reduce  its turnover to $ 600,000 by the end of the week. In parallel, in the  intra-bank foreign exchange market, banks actively bought euro and  rubles, while almost simultaneously actively selling dollars. So, the  decline in the volume of buying up dollars from 19.2% slowed to 4%,  and sales sharply changed from a 17.8% decline to a 13.3% increase.  In the case of the euro, buying has changed dynamics from a 27.6%  decline to a 35% increase, and sales have accelerated the decline  from 5.3% to 22%. Against this backdrop, intra-bank ruble  transactions went up sharply: buying from a 36.5% decline came in at  21% growth, and sales from a meager 0.8% growth accelerated to 18%.  As a result, $ 66.7 million was purchased at the average exchange  rate of 481.03 AMD / $ 1, 10.3 million euro at the average rate of  536.46 AMD / 1EUR, and 1.062 billion rubles. At the average rate of  8.45 AMD / 1RUR, and sold $ 88.4 million at an average rate of 482.57  AMD / $ 1,11.2 million euro at the average rate of 540.64 AMD / 1EUR,  and 495.2 million rubles. At the average rate of 8.55 AMD / 1RUR.

According to the source, for  the previous week (from 22 to 27 May),  Armenian banks issued AMD 38.9 billion AMD and dollar loans for $  63.8 million. In comparison with the previous period (May 15 to May  20), the dynamics of loans issued is as follows: AMD from 63 % growth  fell to 21% decline, in parallel with which dollar from 3.4% decline  sharply increased 2.2 times.