Saturday, November 5 2016 09:27
Svetlana Hovsepyan

Dram devaluates against dollar and EUR revaluating against Ruble

ArmInfo. On October 31-November 4, the amount of transactions on the interbank forex market of Armenia declined by 43% after a 33.2% growth in previous week. At the same time, on the intrabank market the purchase/sale of dollars and EUR experienced different dynamics, while interest towards RUR transaction fell. Thus, in the current week, AMD devaluated against USD from 476 to 477 AMD/USD1 and EUR from 519 to 530 AMD/1EUR revaluating against RUR to 7.5 AMD/1RUR from 7.6 AMD/1RUR in the previous two weeks. In overall, in Jan- Sept 2016, AMD appreciated against USD from 482 to 474 AMD/USD1, depreciating against EUR from 529 to 532 AMD/1EUR, and against RUR from 6.9 to 7.5 AMD/1RUR. In October AMD devaluated against USD from to 476 AMD/USD1, revalued against EUR to 521 AMD/1EUR, while AMD/RUR rate remained the unchanged-7.5 AMD/1RUR.  Since the beginning of the year the foreign exchange market showed signs of life rarely making one at a time transaction between March and May:  USD100 thousand in March, USD2.950 mln in April and USD800 thousand in May, after which it was passive. In Jan-Aug 2016, Central Bank bought USD on the foreign exchange market in April (USD2.4 mln), June (USD50.2 mln) and August ($19.8 mln) and sold in January and February (USD53.1 mln and USD41.5mln, respectively).

As the press office of the Central Bank of Armenia has told ArmInfo, on October 31-November 4, the interbank forex market declined the daily amounts of its transactions, with the largest amount registered on Thursday - $3.095 mln and the smallest amount was on Monday - $800 thousand. The total amount of transactions on the interbank forex market for Oct 31-November 4 declined to $9.546 mln (versus the previous week's $16.650 mln), forming the average exchange rate of 476.38 AMD/1USD (versus the previous 475.60 AMD/1USD). In the meantime, on the intrabank forex market USD purchase sharply declined by 38% (versus 9.7% growth a week before), while EUR purchase on the contrary grew by 17% (versus 33% decline a week before), USD sales increased by 6% (versus 8.9% decline a week before) and EUR sales declined by 30.7% (versus 6.7% growth a week before).  At the same time, RUR purchase on the intrabank forex market fell 9.8% versus 8.3% decline a week before, while RUR sales decreased sharply by 15% after 47.7% growth a week before. As a result, USD purchase made up $68.01 mln at the average exchange rate of 475.01 AMD/USD1, EUR purchase - 7.6 mln at 522.07 AMD/1EUR, and RUR purchase 961 mln RUR at 7.47 AMD/1RUR, whereas USD sales amounted to 88.03 mln at 476.40 AMD/USD1, EUR sales - 9.7mln at 526.15 AMD/1EUR, and RUR sales - 443.2 mln RUR at 7.57 AMD/1RUR.

According to the source, during the previous week (October 24-29), the Armenian banks provided AMD loans worth 88.3bln AMD and USD loans worth 55.3 mln. The weekly dynamics of AMD and USD loans was upward.  Particularly, amount of AMD loans grew 81.7% and the amount of USD loans - 65%, versus last week's 9.5% and 39%, decline. 

To recall, in 2015, on the retail foreign exchange market of Armenia AMD weakened against USD from 477 to 482 AMD/USD1 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/USD1, however since March it strengthened and stood at 482 AMD/1USD by March 25. In overall in H1 2016 AMD appreciated to 477 AMD/USD1 from 482 AMD/USD1, devaluating in mid Feb (to 496 AMD/USD1 from 482AMD/USD1 on Feb 12), in the first decade of April (to 484.5AMD/USD1 from 479 AMD/USD1), in mid May (to 480.5 AMD/USD1 from 479 AMD/USD1-on May 12), in the early and late June (to 479 AMD/USD1 from 478 on June 3 and to 477 AMD/USD1 from 476 AMD/USD1 on June 30). In July AMD appreciated to 476 AMD/USD1 only in the beginning of the third decade, after which it stood at the initial level of 477 AMD/USD1. In August, AMD demonstrated revaluation - 475 AMD/USD1 by August 31 and stood at this level in the first ten days of September, after which it further revaluated. Thus, by September 30, AMD appreciated against USD and EUR to 474 AMD/USD1 and 532 AMD/1EUR, respectively. Along with it, AMD depreciated against RUR to 7.5 AMD/1RUR. In October AMD devaluated against USD (to 476 AMD/USD1), revaluated against EUR-to 521 AMD/1EUR, while AMD/RUR exchange rate remained unchanged-7.5 AMD/1RUR. As of November 4, the exchange rates were as follows:  477AMD/1USD, 530AMD/1EUR, and 7.5AMD/1RUR.


News
Red Wings launches Yerevan-Volgograd flightsRed Wings launches Yerevan-Volgograd flights
EDB forecasts 7-15% decline in mutual trade between EAEU member  countries in 2022EDB forecasts 7-15% decline in mutual trade between EAEU member  countries in 2022
AMD 554mln allocated for construction design of Ajapnyak metro  stationAMD 554mln allocated for construction design of Ajapnyak metro  station
 CBA gave its consent to acquisition of Armenia Securities Exchange  by Warsaw Stock Exchange CBA gave its consent to acquisition of Armenia Securities Exchange  by Warsaw Stock Exchange
ARMENAL marks 22nd anniversaryARMENAL marks 22nd anniversary
Armenia`s GDP growth in Q1 2022 exceeded pre-Covid rates by 8.6% per  annum Armenia`s GDP growth in Q1 2022 exceeded pre-Covid rates by 8.6% per  annum 
WB allocates another $25 million loan to Armenia for the development  of education systemWB allocates another $25 million loan to Armenia for the development  of education system
CBA puts into circulation collector coin Davit BekCBA puts into circulation collector coin Davit Bek
Vahan Kerobyan: Another record has been registered in the labor  market of ArmeniaVahan Kerobyan: Another record has been registered in the labor  market of Armenia
Flyone Armenia launches Yerevan-Antalya-Yerevan direct non-scheduled  flights from June 14Flyone Armenia launches Yerevan-Antalya-Yerevan direct non-scheduled  flights from June 14
Mher Grigoryan: The activities of the trilateral working group, to  unblock transport communications, are definitely productiveMher Grigoryan: The activities of the trilateral working group, to  unblock transport communications, are definitely productive
Team Telecom Armenia improved its mobile network coverage in Yerevan  and all regions of countryTeam Telecom Armenia improved its mobile network coverage in Yerevan  and all regions of country
Warsaw Stock Exchange to acquire 65.03% shares of Armenia Securities   Exchange Warsaw Stock Exchange to acquire 65.03% shares of Armenia Securities   Exchange 
EAEU considers possibility of forming fundamentally new model of  monetary and financial regulationEAEU considers possibility of forming fundamentally new model of  monetary and financial regulation
Tender package for construction of M1 Yerevan-Gyumri-Bavra road  section of North-South project has been approvedTender package for construction of M1 Yerevan-Gyumri-Bavra road  section of North-South project has been approved
Armenia allocates AMD 5.6 billion for socio-economic development of  regions within subvention programsArmenia allocates AMD 5.6 billion for socio-economic development of  regions within subvention programs
Armenia`s pensioners to get 10% cash-back on payments Armenia`s pensioners to get 10% cash-back on payments 
Team Telecom Armenia becomes technology partner of KoreezTeam Telecom Armenia becomes technology partner of Koreez
Armenia to receive $20mln share from customs duties collected in EAEUArmenia to receive $20mln share from customs duties collected in EAEU
Pashinyan receives Executive Director of World Trade Centers  AssociationPashinyan receives Executive Director of World Trade Centers  Association
Vahan Kerobyan on goals of MoE: Vahan Kerobyan on goals of MoE: "Dry Port" of Gyumri will provide 3%  of Armenia`s GDP 
Evocabank replenishes its share capitalEvocabank replenishes its share capital
"The state collects taxes from the economy, but does not spend, thus  reducing economic activity": Luys Foundation 
Investin.am business portal for Private Equity has been launched in  ArmeniaInvestin.am business portal for Private Equity has been launched in  Armenia
YOY inflation in Armenia in April 2021 was 8.4%, and in January-April  alone - 5.8%YOY inflation in Armenia in April 2021 was 8.4%, and in January-April  alone - 5.8%
Branch of International Coaching Federation has been opened in  ArmeniaBranch of International Coaching Federation has been opened in  Armenia
Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister 
RA High-Tech Industry Minister, French Ambassador discuss Armenia`s  participation in VivaTech 2022RA High-Tech Industry Minister, French Ambassador discuss Armenia`s  participation in VivaTech 2022
MoE reports on results of World Bank`s CARMAC2 programMoE reports on results of World Bank`s CARMAC2 program
Central Bank of Armenia: Prices for food and energy  are expected  to stay at high levelCentral Bank of Armenia: Prices for food and energy  are expected  to stay at high level
CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022
Evocabank to help Armenian postal operator introduce financial  servicesEvocabank to help Armenian postal operator introduce financial  services
Remittances of labor migrants from Russia decreased, while transfers  of Russians increased: Central Bank of ArmeniaRemittances of labor migrants from Russia decreased, while transfers  of Russians increased: Central Bank of Armenia
Armenia, Iran reached agreement to remove obstacles to increase trade  between two countriesArmenia, Iran reached agreement to remove obstacles to increase trade  between two countries
Wildberries launches direct sales from Armenian entrepreneursWildberries launches direct sales from Armenian entrepreneurs
Armenia`s Minister of Economy WB Country Manager discuss CARMAC IIArmenia`s Minister of Economy WB Country Manager discuss CARMAC II
Armenian, UAE  FMs discuss bilateral cooperation Armenian, UAE  FMs discuss bilateral cooperation 
Armenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration systemArmenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration system
According to UBA level of profitability of the Armenian banking  system is quite lowAccording to UBA level of profitability of the Armenian banking  system is quite low
$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan
Converse Bank bonds can now be purchased via the mobile applicationConverse Bank bonds can now be purchased via the mobile application
UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1
Seyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank depositsSeyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank deposits
UBA: Volumes of lending to the Armenian economy have grown in almost  all areasUBA: Volumes of lending to the Armenian economy have grown in almost  all areas
Team Telecom Armenia to start business data center construction Team Telecom Armenia to start business data center construction 
Discount system in cashless transactions for pensioners to be  introduced in Armenia Discount system in cashless transactions for pensioners to be  introduced in Armenia 
Armenia`s government to allocate  $10mln to road renovation Armenia`s government to allocate  $10mln to road renovation 
Passenger traffic in Armenia reached 40% growth in Q1Passenger traffic in Armenia reached 40% growth in Q1
Armenia, Iran simplify mutual access of investors to FEZ markets of  two countriesArmenia, Iran simplify mutual access of investors to FEZ markets of  two countries
Armenia`s communications sector revenue in Q1 2022 increased by 6.8%Armenia`s communications sector revenue in Q1 2022 increased by 6.8%
Armenia reduced wine production in Q1Armenia reduced wine production in Q1
Pashinyan receives Alexei Overchuk and Andrey RudenkoPashinyan receives Alexei Overchuk and Andrey Rudenko
Tourist flow to Armenia starts to recoverTourist flow to Armenia starts to recover
ARMSWISSBANK receives EBRD award ARMSWISSBANK receives EBRD award "The most Active Issuing Bank in Armenia for 2021"
Natural population decline was recorded in Armenia Natural population decline was recorded in Armenia 
Armenia`s population decreased by 2.3 thousand people by April 1,  2022Armenia`s population decreased by 2.3 thousand people by April 1,  2022
S&P Global Ratings assigns S&P Global Ratings assigns "B-" (Local Currency LT credit rating) to  ASCE Group
Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister 
Turkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar MehrabianTurkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar Mehrabian
Armenia, Iran to consider to increasing gas supplies from Iran to  ArmeniaArmenia, Iran to consider to increasing gas supplies from Iran to  Armenia
Read more


Exchange rates
25.05.2022
RUB8.040.02
USD450.71-1.99
EUR480.77-3.94
GBP562.98-3.35
CAD350.56-3.50
JPY35.44-0.08
CNY67.73-0.28
CHF467.59-1.04