ArmInfo. On November 28-December 2, the transactions on the interbank forex market grew by 21% after 8.1% decline last week. On the intrabank market the USD and Ruble transactions activated, and interest in EUR purchase appeared amid continuing decline of EUR sales, while a week before the operations with the abovementioned currencies declined. As a result, within the current week AMD kept depreciating against USD from 479.5 to 480.5 AMD/$1 and depreciating against EUR from 506 to 513 AMD/1EUR and RUR to 7.6 AMD/1 RUR from 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 USD 41.5mln, respectively).
The press office of the Central Bank of Armenia has told ArmInfo that on November 28- December 2 on the interbank forex market the maximum amount of transactions was fixed on Thursday ($7.1 mln) and the minimum amount was registered on Friday ($400 thsd). The total amount of transactions on the interbank forex market was $ 11.950 mln(versus $9.880 mln a week before), and the average exchange rate was 481.29AMD/$1 (versus 479.48 AMD/1USD a week before). In the meantime, on the intrabank market the USD purchase transactions grew by 23% versus 14% decline a week ago and EUR purchase also registered growth by 10% versus 39% decline. USD sales increased by 16% versus 8% drop a week ago, while EUR sales kept falling by 33% versus the previous week's 8%. At the same time significant improvement of RUR operations was registered: RUR purchase grew by 22% versus 9% decline last week, and RUR sales registered 99% growth versus previous week's decline by 37%. As a result, the USD purchase totaled $83.4 mln at the average exchange rate of 479.44 AMD/$1, EUR purchase - 7.6 mln EUR at 507.57 AMD/1EUR, and RUR purchase - 1.1 bln RUR at 7.41 AMD/1RUR. Meanwhile, USD sales amounted to $79.3 mln at 480.96 AMD/$1, EUR sales - 11.7 mln EUR at 512.56 AMD/1EUR, and RUR sales - 627 mln RUR at 7.50 AMD/1RUR.
According to the source, during the previous week (November 21-November 26), the Armenian banks provided AMD loans worth 71.8 bln AMD and USD loans worth $25 mln. The amount of AMD loans grew by 33% and the amount of USD loans declined by 60%, while a week before almost equal growth was registered: AMD loans by 21% and US by 26%.
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. This trend continued in November. By November 30, AMD depreciated against USD to 480.5 AMD/$1, at the same time appreciating against EUR to 511 AMD/1EUR and appreciating against RUR at 7.4 AMD/1RUR. Since December AMD continued depreciating against USD and weakened its positions against EUR and RUR.