ArmInfo. Armenian Currency Interbank reduced the amount for February 13-17 in 3.3 times, after growth by 4 times a week earlier. In parallel with this on the market have intensified intra-denominated transactions, with a slump in demand for dollars and euros. At this background, a small amount flashed out on currency exchange site as well, previously unoccupied since the beginning of the month.
As a result, AMD maintained its position against the dollar at 487 AMD/USD1, slightly strengthened against the euro from 521 to 520 AMD/USD1, but weakened against the ruble, from 8.3 to 8.5 AMD/USD1. Prior to that, in January, there was a devaluation of AMD to these currencies, and a sharper against euro than to dollar and the ruble. As a comparison, at the beginning of 2016 AMD was formed against the dollar at 482 AMD/USD1, the EUR - 529 AMD/USD1 and RUR 6.9 AMD/USD1l. Exchange currency area in January-December 2016 showed signs of life from time to time, for a single operation in March-May: $100thsd in March, $2.950mln in April and $800thsd in May, followed by a lull. The central bank in January-December 2016 was buying dollars on the foreign exchange market in April ($2.4mln at the rate of 478.5 AMD/USD1), June ($50.2mln at the rate of 476.72 AMD/USD1), August ($19.8mln at the rate of 474.25 AMD/ISD1), September ($28.8mln at the rate of 474.11 AMD/USD1) and October ($50.8mln at the rate of 475.47 AMD/USD1), and sold in January ($53.1mln at the rate of 484.69 AMD/USD1), February ($ 41.5mln at the rate of 492.59 AMD/USD1), November ($13.1mln at the rate of 478.56 AMD/USD1) and December ($15mln at the rate of 483.06 AMD/USD1).
As the press service of the Central Bank of Armenia told ArmInfo, in the foreign exchange interbank market transactions was carried out amounting $6.7mln in the volume in February 13-17 (weekly decline by 3.3 times) at the average exchange rate at 487.04 AMD/USD1 (against the previous 486.59). Parallel to this, on the intramarket the dynamics of dollar transactions strengthened the recession, and the ruble transactions was replaced with a downturn in growth, while at EUR operations multidirectional trend was registered: buying changed from growth to decline at an accelerating sales growth. Thus, for the reporting week, the volume of dollar buying/selling accelerated decline since from 10-5,5% to 27-18,7%, the ruble was changed from 13-35,8% decline to 11,7-65,6% growth, and in EUR operations the buying wner from 74.8% growth to 59.4% decline at an accelerating growth of losses from 8.4% to 12.4%. As a result, $69.96mln has been purchased at the average exchange rate 485.82 AMD/USD1, 7.3mln, Euro at the average exchange rate of 514.69 AMD/EUR1 and RUR 797.9mln at the average exchange rate 8.39 AMD/RUR1, and sold $83.8mln at the average exchange rate 487.37 AMD/USD1, 10.1mln EUR at the average exchange rate 518.69 AMD/EUR1 and RUR 487.2mln at the average exchange rate 8.46 AMD/RUR1.
According to source, during the previous week (6 to 11 February) Armenian banks issued AMD loans by 44.9bln AMD, and USD loans amounted $41.1mln, compared to the previous period (from January 30 to February 4) AMD loans growth accelerated from 16.6% to 30.5%, and the dynamics of dollar loans changed from 26% increase to 17% decline.
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.