ArmInfo. In intrabank market of Armenia USD and RUB transactions activated at the background of multidirectional dynamics of EUR transactions. Wherein, on the forex exchange market has not been active, after a small volume a week ago.
As a result, Armenian dram appreciated against US dollar from 486.5 AMD/$1 to 486AMD/$1 and depreciated against EUR from 520 AMD/1EUR to 524AMD/1EUR, at the same time slightly depreciating against Russian ruble from 8.1 to 8.2 AMD/1RUR. In early January, AMD sharply depreciated against EUR rather than against USD and RUR. It should be noted for comparison that at the beginning of 2016 AMD exchange rate was as follows: 482 AMD/$1, 529 AMD/1EUR and 6.9 AMD/1RUR. Since the beginning of 2016 the foreign exchange market showed signs of life rarely, making one at a time transaction between March and May: USD100 thousand in March, USD 2.950 mln in April and USD 800 thousand in May, after which it was passive. In Jan-Nov 2016, the Central Bank bought USD on the foreign exchange market in April (USD2.4 mln at 478.5 AMD/$1), June (USD 50.2 mln at 476.72 AMD/$1), August ($19.8 mln at 474.25 AMD/$1), September (USD28.8mln at 474.11 AMD/$1) and October (USD 50.8 mln at 475.47 AMD/$1), and sold in January and February (USD53.1 mln and USD 41.5mln, respectively at 484.69 AMD/$1 and 492.59 AMD/$1), and in November ($13.1 mln at 478.56AMD/$1).
The press office of the Central Bank of Armenia has told ArmInfo that on January 30-February 3 the amount of transactions on interbank forex market totaled $5.7 mln (weekly decrease at 41.8%) at the average exchange rate of 486.43AMD/$1(against former 486.83AMD/$1). In the meantime, on the intrabank market the weekly dynamics of the currency transactions changed from decline to growth, except the EUR sale transactions. Thus, during the reproted week the volume of USD purchase/sale registered growth by 4-6% against the 36-44% decline, RUR grew by 17-51% against the 62-64% decline, while purchase of EUR grew by 28.8% versus 45% decline, at the same time decline in EUR sales slackened to 5.6% from 50% decline. As a result, the banks bought $106.7 mln at the average exchange rate of 485.68 AMD/$1, 10.3 mln EUR at the average exchange rate of 520.81 AMD/1EUR and 821.5.1 mln RUR at the rate of 8.06 AMD/1RUR, and sold $108.6 mln at the average exchange rate of 486.63 AMD/$1, 8.3 mln EUR at average rate of 524.45 AMD/1EUR and 458.4 mln RUR at the average exchange rate of 8.14 AMD/1RUR.
According to the source, during the previous week (January 23-28), Armenian banks provided AMD loans worth 29.5 bln AMD and USD loans worth $39.3 mln (77.8% growth versus 8.7-fold decline a week before), meanwhile dynamics of AMD loans is still downward- from 3-fold to 24,5%.
To recall, in 2015, on the retail foreign exchange market of Armenia, AMD depreciated against USD from 477 to 482 AMD/USD1 on average and appreciated 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 slackening of economic activity growth from 3.9% to 3.1%, decline of foreign trade turnover (by 20.6%), with import dropping more significantly (by 26.5%) than export (by 3.9%) as well as amid decline in money transfer inflow to Armenia by over 30%, and this happened under conditions of low buying capacity of the population. In 2016, AMD depreciated on the retail foreign exchange market of Armenia against USD and RUR to 484AMD/USD1 and 8 AMD/1RUR, and revaluated against EUR to 505 AMD/1EUR. This happened amid deflation of consumer prices by 1.1% in 2016, slackening of growth of economic activity to 0.5%, and decline of the net inflow of transfers (by 24% in Jan-Nov 2016 versus Jan-Nov 2015). In the meantime, the foreign trade turnover grew by 7.4% and deflation on the consumer market made up 1.4%. In early 2017 AMD depreciated against USD from 484 to 485 AMD/$1, against EUR from 505 to 511 AMD/1EUR, and against RUR from 8 to 8.1 AMD/1RUR.