ArmInfo. By 8 Jan 2016, Armenian Dram (AMD) depreciated against US dollar (USD) from 476 AMD to 486 AMD/1USD, at the same time appreciating against EUR from 583 to 529 AMD/1EUR and appreciating against Russian ruble (RUR) from 8.2 to 6.5 AMD/1RUR. In the first ten days of January, AMD depreciated against USD from 482 AMD/$1, at the same time appreciating against EUR and RUR from 530 AMD/1EUR and 6.7 AMD/1RUR, respectively.
Since late August 2015, the Central Bank of Armenia launched interventions to change the AMD depreciation behavior. The CBA's tangible interventions were fixed on the interbank forex market on 28 August - $95 mln, on 19 September - $22.2 mln, 13 November - $19.6 mln, on 2 October - about $6 mln, 11 December - over $6 mln and during the last week of December the daily interventions exceeded $16 mln. In Aug-Dec 2015, AMD appreciated against USD from 485 to 482 AMD/$1, rising to 485 AMS/$1 in early January 2016, and then continued slowly depreciating. The AMD depreciation was amid the drop in the foreign trade turnover (over 20%), with import falling by almost 27% and export declining by about 5%, as well as amid the reduction in the inflow of transfers to Armenia by more than 30%, while the purchasing power and the economic activity in the country are low.
RUB | 4.22 | 0.04 |
USD | 388.60 | -1.44 |
EUR | 416.73 | 1.10 |
GBP | 485.98 | 4.24 |
CAD | 284.02 | -0.58 |
JPY | 24.99 | -0.21 |
CNY | 53.63 | -0.19 |
CHF | 425.54 | -2.14 |