AMD strengthens to the dollar, continuing to weaken towards the euro

ArmInfo. The currency  interbank of Armenia sharply increased its volume threefold from  August 28 to September 1, after a decline of 46.2% a week earlier. At  the same time, the active sale of the dollar continues in the  intra-bank foreign exchange market, accompanied by a weakened  interest in buying up the US currency, as a result of which ruble  transactions intensified both in terms of purchases and sales, and a  slight upward trend in euro buying was observed in parallel with the  acceleration of the sales decline. The exchange currency market  continues to be empty.

As a result, AMD versus  the dollar was replaced by the mood from  devaluation to strengthening - from 479 to 478.5 AMD / $ 1,  continuing to weaken to the euro - from 565 to 569 AMD / 1evro, and  to the ruble - from 8.1 to 8.3 AMD / 1 rub. A year earlier, on  September 1, 2016, the exchange rate of the dram to the dollar was  475 AMD / $ 1, to the euro - 529.5 AMD / 1evro, and to the ruble -  7.3 AMD / ruble, which, in comparison with the current rates,  indicates the annual devaluation of the dram to these currencies.

As the press service of Central Bank of Armenia told ArmInfo, NASDAQ  OMX Armenia currency exchange market is empty for the third month. At  the same time, from August 28 to September 1, transactions were made  in the currency interbank market in the amount of $ 12.742 million at  the weighted average rate of 478.56 AMD / $ 1 (against the previous  479.05). At the same time, in the domestic forex market, dollar  buying slowed the decline from 15% to 0.7% with the acceleration of  sales growth from 11% to 16.3%, euro buying out of the 14.8% decline  by 3% the acceleration of the sales decline from 4.6% to 14.4%, the  ruble buying from the 5% decline was replaced by 4.3% growth with a  similar but more significant change in the sales trend from a 3.4%  decline to 22% growth. As a result, $ 68.9 million was purchased at  the average exchange rate of 477.75 AMD / $ 1, 10.1 million euro at  the average rate of 567.76 AMD / 1EUR, and 1.3 billion rubles in   average rate of 8.11 AMD / 1RUR, and sold $ 92.8 million at an  average rate of 479.19 AMD / $ 1, 12.5 million euro at an average  rate of 572.31 AMD / 1EUR, and 522.7 million rubles. at the average  rate of 8.21 AMD / 1RUR.