ArmInfo. On November 14-November 18, the amount of transactions on the interbank forex market of Armenia grew 6-fold after almost 2-fold decline in previous week. At the same time, on the intrabank market the purchase/sale of dollars experienced different dynamics; EUR transactions grew significantly, amid growing interest towards RUR transactions. Thus, in the current week, AMD devaluated against USD from 477 to 479 AMD/USD1, revaluated against EUR from 520 to 509.5 AMD/1EUR, staying against RUR at 7.4 AMD/1RUR. 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 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).
The press office of the Central Bank of Armenia (CBA) has told ArmInfo that on November 14- 18, the forex interbank market increased daily amounts of transactions with maximum on Tuesday and Friday - $3-3.5 mln and minimum in Wednesday-$900 thousand. In overall the weekly amount of transactions on the forex interbank market totaled $10.750 mln (versus $1.8 mln a week before) forming average exchange rate of 479.55 AMD/$1 (versus previous 478.57 AMD/1USD). As regards the intrabank market, USD purchase grew by 5.9% versus previous 8.8%, while the EUR purchase rose sharply by 64% versus previous week's 7.9% decline. At the same time, USD sales dropped by 11% from previous 6.8% decline, while EUR sales grew by 67.8% versus previous 18.6%. At the same time RUR purchase grew by 10.4% versus previous 10.7% decline, RUR sales grew by 10.4% versus previous 2%. The purchase totaled $77.8 mln at the exchange rate of 478.15 AMD/$1, 11.5mln EUR at 515.07 AMD/1EUR, and 947.1 mln RUR at 7.28 AMD/1RUR, while the sales totaled $72.7 mln at 479.71 AMD/$1, 19.3 mln EUR at 517.12 AMD/1EUR, and 498.5 mln RUR at 7.37 AMD/1RUR.
According to the source, during the previous week (November 7-November 12), the Armenian banks provided AMD loans worth 44.7bln AMD and USD loans worth $49.8 mln. The weekly dynamics of AMD loans was downward amid improving dynamics of USD loans. Particularly, the amount of AMD loans fell by 18.7% and the amount of USD loans grew by 11.4%, versus the previous week's 37.5% and 19% decline, respectively.
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/1USD, revaluated against EUR to 521 AMD/1EUR, while the AMD/RUR exchange rate remained unchanged - 7.5 AMD/1RUR. By November 18, the exchange rates were as follows: 479AMD/1USD, 509.5AMD/1EUR, and 7.4AMD/1RUR.