ArmInfo. Active transactions on forex interbank market prevent Dram from depreciation. Moreover, a significant volume of the forex interbank on Friday, testifies regular intervention of the Central Bank . The last major interventions of the Central Bank were registered on August 28 ($95mln) and on September 19 ($22.2 mln). Thus, on September 28 to October 2 inclusive, the forex transactions on NASDAQ OMX Armenia declined almost 2-fold, getting even with the volume of the interbank forex, which had a 2-fold increase. As a result, Dram after strengthening in September from 484 up to 473 AMD/$1, demonstrated the same level on October 2.
The press office of the CBA has told ArmInfo that on September 28 to October 2 the transactions on NASDAQ OMX Armenia totaled $2.850 mln, forming an average exchange rate of 473.45 AMD/$1. The banks were active on the stock exchange two days on Tuesday and Thursday with maximum volume on October 2. The forex interbank within the reporting week demonstrated volume of $14.250 mln., forming course at the level of 472.83AMD/1$ in average. This time AMD again has showed no devaluation, due to the intervention of the Central Bank ($6mln estimated), as states volume of interbank.
The source says that in the intrabank currency market (transactions with customers) the banks bought $113.9 mln (up 70% versus the previous week) on September 28-October 2 at the average exchange rate of 473.93 AMD/$1, and sold $125.7 mln (up 42% versus the previous week) at the average exchange rate of 475.32 AMD/$1. In the meantime, the banks bought 9.2 mln EUR (down 7%) at the average exchange rate of 528.02 AMD/1EUR, and sold 13.1 mln EUR (up 13%) at the exchange rate of 532.52 AMD/1EUR. The banks also bought 2.3 bln RUR (2-fold weekly growth) at the average exchange rate of 7.20 AMD/1RUR and sold 374.6 mln RUR (35% rise) at the exchange rate of 7.29 AMD/1RUR.
During the previous week of September 21 - September 27, the Armenian banks provided AMD loans worth 36.7 bln AMD and USD loans worth $31.5 mln. As compared with the previous week (14-20 September), and by AMD loans declined by 5% and USD declined by 23%.
To recall, during the last months of 2014 the forex market of Armenia registered a sharp rise of the AMD/USD exchange rate - over 570 AMD/1USD. From October through December 17, 2014, AMD depreciated by almost 45% in the retail forex market of Armenia, then it appreciated by 25% on Dec 18-20, staring depreciating against on Dec 22. On Dec 27, the average AMD/USD exchange rate was 470 AMD/$1, the AMD/EUR exchange rate was 574 AMD/1EUR, the AMD/RUR exchange rate was 8.7 AMD/1RUR. Over 2014, NASDAQ OMX Armenia registered transactions worth a total of $744.5 mln, with the biggest amount falling on November ($117 mln). Over the year the exchange rate on NASDAQ OMX Armenia rose from 407.14 to 560 AMD/$1 (on Dec 17 the exchange rate rose by 22%), dropping to 470 AMD/$1 by Dec 27. In 2014, in the retail forex market of Armenia, the AMD depreciated against USD by 40%, with the maximum indicator (570 AMD) fixed on Dec 17 and the minimum (406 AMD) registered in July. In the first half of 2015, in the retail forex market AMD appreciated from 477 to 473 against USD; from 571.5 to 528 against EUR, at the same time depreciating from 8.2 to 8.6 against RUR. However, in July AMD starting depreciating and by 31 July 2015 the average AMD/USD exchange rate was 478.3 AMD/$1, with the AMD/EUR exchange rate being 524 AMD/1EUR and the AMD/RUR exchange rate being 8 AMD/1RUR. By August 24, AMD depreciated to 485.5 AMD/$1 against USD, insignificantly dropping by August 28 (following the CB intervention) to 484.3 AMD/$1. AMD depreciated to 544.5 against EUR and appreciated to 7.4 against RUR. By October 2, dram remained to dollar to the level of 473 AMD/1$, strengthening to Euro and ruble: up to 529AMD/1EUR and 7.2AMD/1ruble, respectively.