Saturday, June 25 2016 11:51
Svetlana Hovsepyan

This week interbank forex market was less active, while the active transactions on intrabank market supported AMD appreciation

ArmInfo. This week the interbank forex market was less active, while the active transactions on intrabank market supported the AMD appreciation - from 477 to 476 
AMD/1USD. At the same, NASDAQ OMX Armenia has seen no transactions this week either.  The Central Bank still refrains from interventions. As a result, in Q1 2016, AMD devaluated against USD to 496 AMD/$1 (February 12) and then stood at initial 482 AMD/$1 on March 25. It further strengthened to 479 AMD/$1 by March 29, after 
which in the first decade of April devaluated to 484.5 AMD/$1. By April 11 it again appreciated and stood at 479 AMD/$1 by April 29. This level was retained through May 11 inclusive, but on May 12 it rose to 480.5 AMD/$1. However, on May 20, it dropped to 478 AMD/$1 and this level was retained till June 2. On June 3, however, AMD depreciated to 479 AMD/$1 and stood at that level till June 15. Later revaluation was registered and AMD appreciated to 477 AMD/$1 by June 17 and to 476 AMD/1USD by June 24. Independent experts say the AMD/USD exchange rate may rise to 540- 550 AMD/$1 by late 2016, amid the financial and economic crisis in Russia and the sliding prices of oil and crude metals, which is one of the key export items of Armenia.

The CBA press office has told ArmInfo that this week NASDAQ OMX Armenia has seen no transactions. At the same time, the interbank forex market reduced its activities (only June 22 and June 24 saw transactions worth 500 thsd USD each). On June 20-24, the transactions totaled $1 mln (with 84.5% weekly decline) at the 
average exchange rate of 476.21 AMD/$1 (versus the previous 478.51 AMD/1USD).  

The source says that on June 20-24, on the intra-bank currency market (transactions with customers) the banks bought $94 mln (15.1% growth versus the previous week) at the average exchange rate of 475.88 AMD/$1, and sold $68.2 mln (16.5% decline versus the previous week) at the average exchange rate of 477.11 AMD/$1. In the meantime, the banks bought 12.1 mln EUR (2-fold rise) at the average exchange rate of 536.01 AMD/1EUR, and sold 11.3 mln EUR at the exchange rate of 538.70 MD/1EUR. The banks also bought 1.3 bln RUR (up 28.1%) at the average exchange rate of 7.34 AMD/1RUR and sold 380.4 mln RUR (down 7.7%) at the exchange rate of 7.43 AMD/1RUR.

During the previous week (June 13-18), the Armenian banks provided AMD loans worth 36.7 bln and USD loans worth $31.1 mln. As compared with the previous week (June 6-11), AMD loans dropped by 15.1%, and the ones in terms of USD - by 8.3%. 

To recall, in 2015, on the retail foreign exchange market of Armenia AMD weakened against USD from 477 to 482 AMD/$1 on average and strengthened against EUR from 571.5 to 529 AMD/1EUR and against Russian ruble from 8.2 to 6.9 AMD/1 RUR.  Between December 14 and 28, the Central Bank made almost daily interventions.  AMD depreciated amid decline of foreign trade turnover (by 20.6%), while import 
dropped more significantly (by 26.5%) than export (by 3.9%) as well as the decline in transfer inflow to Armenia more than by 30%, and this happened in conditions of low buying capacity of the population and low economic activity in the country.  Since early 2016, AMD started depreciating again on the retail foreign exchange market of 
Armenia to 496AMD/$1, however since March it strengthened and stood at 482 AMD/1USD by March 25. At the same time AMD depreciated against EUR to 538 AMD/1EUR and against RUR to 7.1AMD/1RUR. Later, AMD started revaluating again since mid-April. By April 29, AMD appreciated against USD to 479 AMD/$1 and this trend continued in May. By May 31, AMD appreciated against USD to 478 AMD/$1, and against EUR to 532 AMD/1EUR, at the same time depreciating against RUR to 7.3 AMD/1RUR. The first half of June AMD demonstrated moderate depreciation, followed by appreciation: thus by June 24 the AMD stood at 476 AMD/$1, 522 AMD/1EUR, and 7.3 AMD/1 RUR.


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Exchange rates
22.10.2020
RUB6.420.01
USD494.31-0.06
EUR584.77-0.71
GBP647.001.65
CAD375.87-1.25
JPY47.190.06
CNY74.270.24
CHF544.93-1.58



Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000