ArmInfo. The Currency Interbank of Armenia increased its volume for February 6-10 for 4 times, after previous week decline by 41,8%. At the same time, on the intrabank market the purchase/sale of dollars experienced volume decline and activated the EUR operations. While the the currency exchange marketplace continues to be empty.
Thus, in the current week, AMD devaluated against USD from 486 to 487 AMD/USD1, strengthened against EUR from 524 to 521 AMD/1EUR, against RUR from 8.2 to 8.3 AMD/1RUR. Previously, in January the AMD devaluation against the given currencies was registered, and sharper against EUR then against USD and RUR. To note, comparing with 2016 beginning, AMD formed against USD on the level of 482 AMD/USD1, against EUR 529 AMD/EUR1 and 6.9 AMD/RUR1. Exchange currency area in January-December 2016 showed signs of life from time to time - for a single operation in March-May: $100thsd- March, $2.950mln-April and $800thsd in May followed by a lull. In Jan-Dec 2016, Central Bank bought USD on the foreign exchange market in April (USD2.4 mln at the rate of 476.72 AMD/USD1), June (USD50.2 mln at the rate of 476.72 AMD/USD1) and August ($19.8 mln at the rate of 474,25 AMD/USD1), in September (USD28.8mln at the rate of 474,11 AMD/USD1) and October (USD50.8mln at the rate of 475,47 AMD/USD1), and sold in January and February (USD53.1 mln and USD41.5mln, respectively), November ($ 13.1mln at the rate of 478.56 AMD/USD1) and December ($15mln at the rate of 483.06 AMD/USD1).
The press office of the Central Bank of Armenia (CBA) has told ArmInfo that on February 6-10, amount of transactions on the forex interbank market totaled $22.3mln (weekly increase for 4 times) at the average rate of 486.59 AMD/USD (against previous 486.47 AMD/USD1). At the same time, on the intrabank market USD purchase declined, while the interest to EUR transactions grew. Thus, for the reporting week, the volume of buying / selling dollars at 4-6% grew left in 10-5,5% decline, the decline of the ruble - from 17- 51% increase to 13-35,8% decline and on EUR operations improved dynamics observed on sale - with 5.6% from decline to 8.4% growth, in parallel with the accelerated pace of growth of EUR buying- from 28.8% to 74.8%. As a result, USD95.8mln at the average exchange rate of 485.72 AMD/USD1, EUR17.9mln was bought the average exchange rate of 517.13 AMD/EUR1 and RUR713.7mln the average exchange rate of 8.19AMD/RUR1, and sold USD103mln at an average exchange rate of 486.85 AMD/USD1, EUR8.9 mln at the average exchange rate of 522.47 AMD/EUR1 and RUR294.1mln the average exchange rate of 8.29 AMD/RUR1.
According to the source, during the previous week (January 30-February 4), the Armenian banks provided AMD loans worth 34.4bln AMD and USD loans worth $49.5 mln. In comparison with the previous period (January 23-28) dynamics has improved for AMD loans from 24.5% decline to 16.6% growth, and the rate on USD loans growth slackened from 77.8% to 26%.
USD sales rose by 39%, and EUR sales grew by 28%. RUR purchase fell by 23%, and RUR sales - by 54%. As a result, the purchase totaled $90.6 mln at the average exchange rate of 483.77 AMD/$1, 9.7 mln EUR at 511.09 AMD/1EUR, and 1.007 bln RUR at 7.82 AMD/1RUR. The sales amounted to $115.3 mln at the average rate of 485.64 AMD/$1, 13.4 mln EUR at 514.14 AMD/1EUR, and 353.9 mln RUR at 7.96 AMD/1RUR. The total amount of the transactions on the forex interbank market during the current week amounted $22.074 mln (versus $13.789 mln a week before), and the average exchange rate was 482,01 AMD/$1 (versus 485,28 a week before). At the same time, on the intrabank market USD purchase rose by from 36% to 44%, while EUR purchase grew by from 26% to 55%. USD sales dropped down from 39% to 4%, and EUR sales trend grew by 23 % (versus 28% a week before). Within this picture, RUR purchase operations showed different dynamics: buy changed its flow from 23% decrease to 11% growth, and sales drop down slowed from 54% to 3%. As a result, the purchase totaled $131mln at the average exchange rate of 481,28 AMD/$1, 14,9 mln EUR at 499,32 AMD/1EUR, and 1.1 bln RUR at 7.78 AMD/1RUR. The sales amounted to $119.8 mln at the average rate of 482.42 AMD/$1, 15.7mln EUR at 504.75 AMD/1EUR, and 341.7 mln RUR at 7.91 AMD/1RUR.
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. In early December AMD kept depreciating against USD, at the same time weakening against EUR and RUR, but in mid-December AMD appreciated against EUR and continued weakening against RUR, retaining its position against USD.