The dram is weakening against the dollar and the euro, appreciating against the ruble

ArmInfo. The currency interbank of Armenia sharply reduced the volume 3.3-fold from November 6 to 10 (after growing by 3.3% a week earlier), and during the week deals were made only on Tuesday and Friday. In parallel with this, the interest rate of the participants in the intra-bank foreign exchange market was decreasing, and as a result, the transfer of operations from the active phase to the passive, especially for the euro transactions. The exchange market is empty for the sixth month.

As a result, the dram against the dollar in the reporting week devalued from 484.3 to 487 dr / $ 1, continuing to weaken and to the euro - from 565 to 567 dr / 1evro, while becoming stronger to the ruble - from 8.3 to 8.2 dr / 1 rub. A year earlier, on November 10, 2016, the exchange rate of the dram to the dollar was 478.5 dr / $ 1, to the euro - 522 dr / 1evro, and to the ruble - 7.5 dr / ruble, which, in comparison with the current rates, indicates the annual devaluation of the dram to these currencies.

As the press service of the Central Bank of Armenia told ArmInfo, in the currency interbank market, transactions in the amount of $ 2.8 million were made from November 6 to 10 inclusive at the weighted average rate of 485.85 dr / $ 1 (against the previous 483.61), with the only volumes falling on Tuesday and Friday - $ 2 million and $ 800 thousand. In parallel, the trend of buying up the dollar in the intra-bank foreign exchange market changed from a 9.9% growth to an 8.8% decline, with a slowdown in the sales decline from 3.8% to 0, 5%, euro buying / selling changed dynamics from 41.3-25.5% growth to 26.5-28% decline, ruble buying slowed down the decline 16.1% to 10.4% with deterioration trend of sales from 33.7% growth to 10.1% decline.  As a result, $ 71.4 million was purchased at the average exchange rate of 485.33 dr / $ 1, 8.3 million euro at the average rate of 562.12 dr / 1EUR, and 1.02 billion rubles. at an average rate of 8.20 dr / 1RUR, and sold $ 80.9 million at an average rate of 487.19 dr / $ 1, 14.9 million euro at an average rate of 565.99 dr / 1EUR, and 638.9 million rubles. at the average rate of 8.31 dr / 1RUR.

According to the source, over the previous week (from October 30 to November 4), Armenian banks issued AMD 67.5 billion in dram loans and $ 45.2 million in dollar loans. In comparison with the previous period (from October 23 to October 28), the dynamics of issued loans is as follows: drams slowed down the growth rate from 24.7% to 19.3%, and the dollar improved the trend with an exit from 38.2% decline to 1.3% growth.

It should be noted that in January-September 2017, a total of $ 3.3 million was effected on the exchange currency platform, in particular, $ 600,000 was "lit" in January and February at the rate of 486.79 dr / $ 1 and 487.08 dr / $ 1, $ 1.5 million in March at the rate of 485.55 dr / $ 1, and $ 600 thousand - in May at the rate of 482.80 dr / $ 1. During this period, there were no transactions at the exchange currency market in April, and from June to August inclusive. The central bank made transactions in the currency market only in January and September-September, in January and September, in particular, in January it was fixed the sale of $ 15 million at the rate of 485.84 dr / $ 1, and in June-September - the purchase of $ 110.6 million accompanied by a slow strengthening of the rate from 480.73 to 478.49 dr / $ 1: June - $ 11.5 million, July - $ 51.5 million, August - $ 29.9 million and September - $ 17.7 million. For the entire year 2016 the exchange currency market showed signs of life occasionally - March-May, and the Central Bank bought dollars in the foreign exchange market in April ($ 2.4 million), June ($ 50.2 million), August ($ 19.8 million), September ($ 28.8) and October ($ 50.8 million) and sold in January ($ 53.1 million), February ($ 41.5 million), November ($ 13.1 million) and December ($ 15 million).