Saturday, March 11 2017 09:53
Svetlana Hovsepyan

In March first decade AMD strengthened against USD and RUR, weakening towards EUR

In March first decade AMD strengthened against USD and RUR, weakening  towards EUR

ArmInfo. The currency  interbank of Armenia reduced volume from March 6 to 10 by 38%, after  a decline of 31% a week earlier. In parallel, on the intrabank  market, after the activity of the previous week, the current passive  phase included both USD and RUR transactions, as well as EUR  transactions.

Against this background, the exchange currency market,  after a week of silence, again made itself felt in a small volume. As  a result, the AMD for the reporting week strengthened to the USD from  487 to 486 AMD/USD1, to the RUR from 8.4 to 8.2 AMD/RUR1, tuned to  devaluation to the EUR from 513 to 515 AMD/EUR1. A year earlier, in  the first decade of March 2016, AMD depreciated against the USD from  491 to 493 AMD/USD1 and the RUR from 6.6 to 7 AMD/RUR1, maintaining  its position against the EUR at 540 AMD/EUR1, which, in comparison  with the current rates, indicates the annual strengthening of AMD  against USD and EUR, with devaluation to RUR. For the entire year of  2016, the exchange currency market gave signs of life occasionally  for one operation in March-May: $ 100 thousand in March, $ 2.950  million in April and $ 800thsd in May, followed by a lull. The  central bank bought USD in April in the foreign exchange market ($  2.4 million at the rate of 478.5 AMD/USD1), June ($ 50.2 million at  the rate of 476.72 AMD/USD1), August ($ 19.8 million at the rate of  474.25 AMD/USD1 ), September ($ 28.8 million at the rate of 474.11  AMD/USD1) and October ($ 50.8 million at the rate of 475.47  AMD/USD1), and sold in January ($ 53.1 million at the rate of 484.69  AMD/USD1), February ($ 41.5 Million at the rate of 492.59 AMD/USD1),  November ($ 13.1 million at the rate of 478.56 AMD/USD1) and December  ($ 15 million at the rate of 483.06 AMD/USD1).

As the Armenian Central Bank's press service told ArmInfo, during the  reporting week, deals were made at $ 800thsd on NASDAQ OMX Armenia  exchange market, having formed the average exchange rate at the level  of 486,90 AMD/USD1. At the Interbank currency exchange, from March 6  to 10, transactions were made in the amount of $ 5 million (weekly  decline by 38%) at the average rate of 486.27 AMD/USD1 (against the  previous 487.09). In parallel with this, on the intrabank market, the  weekly dynamics of USD, RUR and EUR transactions changed the vector  into a descending one. So, for the reporting week, the volume of  buying/selling USD changed the trend from 39.5-53% growth to a  28.7-39% decline, RUR - from 10.4-14.5% growth to 20, 7-14.8%  decline, against which the intensified buying of EUR sharply changed  the vector from 5.8% growth to a 2-fold decline in parallel with the  acceleration of the sales decline from 2.4% to 26.7%. As a result, $  61.9 million was purchased at the average exchange rate of 485.53  AMD/USD1, 7.4 million EUR at the average exchange rate of 511.66  AMD/EUR1 and 710.5 million RUR at the average rate of 8.26 AMD/RUR1,  and sold $ 70.5 million at average rate of 487.18 AMD/USD1, 8.8  million EUR at average rate of 515.94 AMD/EUR1 and 394.8 million RUR  at average rate of 8.36 AMD/RUR1.

According to the source, during the previous week (February 27 to  March 4), Armenian banks issued AMD 43.7 billion AMD and USD loans  for $ 88.2 million. In comparison with the previous period (February  20- 25), the trend for AMD loans deteriorated from 28, 4% growth to  18% decline, while the dynamics of USD loans improved, and sharply  from 12.9% decline in growth by 2.3 times.

To note, for the year 2015, in the retail foreign exchange market of  Armenia, AMD weakened against the USD from 477 to 482 AMD/USD1 on  average, while strengthening against EUR from 571.5 to 529 AMD/EUR1  and against RUR from 8.2 to 6,9 AMD/RUR1. Moreover, from mid-December  almost every day the Central Bank conducted interventions. The  devaluation of AMD 2015 was observed in parallel with a slowdown in  GDP growth from 3.6% to 3%, a decrease in foreign trade turnover (by  20.6%), more significantly imports (by 26.5%) than exports (by 3,9%),  as well as the subsidence of the inflow of transfers to Armenia by  almost 24%, and this in the already low purchasing power of the  population. In 2016, in the retail foreign exchange market, AMD  depreciated against USD and RUR to 484 AMD/USD1 and 8 AMD/RUR1,  gaining to the EUR to 505 AMD/EUR1, which occurred under conditions  of almost stagnant slowdown in GDP growth by 0.2%, continuing, but at  a slower pace, subsidence of the net inflow of transfers (by 17.8%  yoy in January-December). In parallel to this, in 2016, there was an  improvement in the dynamics of foreign trade turnover from a decline  by 7.4% growth due to the export and import from the recession to a  20% and 1.6% growth respectively, as well as deflation in the  consumption by 1,4%.


News
Pashinyan: This is the best time to show political will and take a  course on reforms in the tax sectorPashinyan: This is the best time to show political will and take a  course on reforms in the tax sector
For 7 months of 2021, tax revenues of state budget of Armenia,  compared to same indicator for 2020, increased by 10.5%For 7 months of 2021, tax revenues of state budget of Armenia,  compared to same indicator for 2020, increased by 10.5%
Central Bank of Armenia: Maintaining uncertainty restrains rapid  economic recoveryCentral Bank of Armenia: Maintaining uncertainty restrains rapid  economic recovery
Forbes included Armenia in list of the most impressive travel  destinations Forbes included Armenia in list of the most impressive travel  destinations 
Central Bank of Armenia: Annual real inflation continues to grow at  an accelerated rateCentral Bank of Armenia: Annual real inflation continues to grow at  an accelerated rate
CBA: Net inflow of transfers from individuals increased by 98.6% per  annum in H1 2021CBA: Net inflow of transfers from individuals increased by 98.6% per  annum in H1 2021
Central Bank of Armenia raised refinancing rate from 6.5% to 7%Central Bank of Armenia raised refinancing rate from 6.5% to 7%
Education is the basis of a strong state: IDBank and Russian-Armenian University announced cooperationEducation is the basis of a strong state: IDBank and Russian-Armenian University announced cooperation
"Texas Production" knitting company received tax incentive from  Government within framework of investment program in amount of about  1 billion drams 
Armenian government satisfied application of Armenian government satisfied application of "GINAP" LLC for  exemption from import customs duties on imported technological  equipment
Governor: Sotk mine will be exploited again when safety issues are  resolved  Governor: Sotk mine will be exploited again when safety issues are  resolved  
 About $ 60 million will be invested in a new ski resort in the  Aragatsotn region of Armenia. About $ 60 million will be invested in a new ski resort in the  Aragatsotn region of Armenia.
Converse Bank has completed the placement of corporate bondsConverse Bank has completed the placement of corporate bonds
Armenian government to identify obstacles to launching Armoil  petrochemical plant in Kotayk regionArmenian government to identify obstacles to launching Armoil  petrochemical plant in Kotayk region
Fundraising for the start of construction of the airport UAV named  after Karen Vardanyan has been completedFundraising for the start of construction of the airport UAV named  after Karen Vardanyan has been completed
TOP-5 large taxpayers of Armenia reduced tax payments in the first  half of the yearTOP-5 large taxpayers of Armenia reduced tax payments in the first  half of the year
Managing Director of Japan Bank for International Cooperation is  ready to visit Armenia to get acquainted with cooperation  opportunitiesManaging Director of Japan Bank for International Cooperation is  ready to visit Armenia to get acquainted with cooperation  opportunities
In H1, 2021 Armenian banks transferred to the state treasury USD 60.6  million taxes with a 19.4% y-o-y growth In H1, 2021 Armenian banks transferred to the state treasury USD 60.6  million taxes with a 19.4% y-o-y growth 
Telecommunications operators of Armenia reduced tax payments to the  state budget by 12.8% in H1, 2021Telecommunications operators of Armenia reduced tax payments to the  state budget by 12.8% in H1, 2021
Delegation of Armenian Economy Ministry is in Georgia to discuss the  possibilities of expanding cooperation in the trade and economic  fieldsDelegation of Armenian Economy Ministry is in Georgia to discuss the  possibilities of expanding cooperation in the trade and economic  fields
ANIF Head: New Law on Public-Private Partnership has become an  important step towards stimulating investment in ArmeniaANIF Head: New Law on Public-Private Partnership has become an  important step towards stimulating investment in Armenia
French experts proposed mechanisms for identifying and analyzing  risks to improve the process of tax audits in ArmeniaFrench experts proposed mechanisms for identifying and analyzing  risks to improve the process of tax audits in Armenia
In H1 2021, ARMENAL plant produced 16.9 thousand tons of productsIn H1 2021, ARMENAL plant produced 16.9 thousand tons of products
 ACBA Bank: USD 5 million will be allocated to development of Green  Economy in Armenia ACBA Bank: USD 5 million will be allocated to development of Green  Economy in Armenia
Ameriabank is the leading taxpayer among Armenian banks in the first  half of 2021Ameriabank is the leading taxpayer among Armenian banks in the first  half of 2021
Armenia`s foreign trade deficit reduced in June 2021 by 20.2% per  annumArmenia`s foreign trade deficit reduced in June 2021 by 20.2% per  annum
Growth of economic activity accelerates in ArmeniaGrowth of economic activity accelerates in Armenia
Armenia intends to expand cooperation with leadership of Iran`s  Social Security Investment CompanyArmenia intends to expand cooperation with leadership of Iran`s  Social Security Investment Company
Clarification of State Revenue Committee about new advantages of  obtaining  certificate of  law-abiding taxpayerClarification of State Revenue Committee about new advantages of  obtaining  certificate of  law-abiding taxpayer
1000 large taxpayers of Armenia paid about $ 1.2 billion to the state  budget in H1, 2021: Defense Ministry apparatus is the third on the  list 1000 large taxpayers of Armenia paid about $ 1.2 billion to the state  budget in H1, 2021: Defense Ministry apparatus is the third on the  list 
US State Department Investment Review: The financial sector in  Armenia is not highly developedUS State Department Investment Review: The financial sector in  Armenia is not highly developed
Government of Armenia discussed agricultural programs implemented  with support of stateGovernment of Armenia discussed agricultural programs implemented  with support of state
Updated RA Law Updated RA Law "On Combating Money Laundering and Financing of  Terrorism" will enter into force on July 26
Armenian Regulator excludes cartel agreement in liquefied gas marketArmenian Regulator excludes cartel agreement in liquefied gas market
Tax revenues of the Armenian state treasury as of July 20 amounted to  865.2 billion AMD with an annual indicator of 1 trillion 510 billion  AMDTax revenues of the Armenian state treasury as of July 20 amounted to  865.2 billion AMD with an annual indicator of 1 trillion 510 billion  AMD
Armenian Ambassador to the Czech Republic held talks with the  leadership of Armenian Ambassador to the Czech Republic held talks with the  leadership of "CzechInvest"
Agricultural land sales remain high in the regions of ArmeniaAgricultural land sales remain high in the regions of Armenia
Deputy Minister of Economy and Russia`s Ambassador discussed  development of the Armenian-Russian strategic, trade and investment  cooperation Deputy Minister of Economy and Russia`s Ambassador discussed  development of the Armenian-Russian strategic, trade and investment  cooperation 
Resident of FEZ Resident of FEZ "Alliance" LLC "Arides" intends to expand activities  in the field of electronics and precision engineering
The trend of monthly growth in apartment prices in Yerevan continuesThe trend of monthly growth in apartment prices in Yerevan continues
It was a joke: Armenian Minister of Economy on his call to It was a joke: Armenian Minister of Economy on his call to "detain"  labor migrants
Armenian government allocated about $ 17.8 million for overhaul of  roads with length of 50.7 kmArmenian government allocated about $ 17.8 million for overhaul of  roads with length of 50.7 km
Armenian authorities will fight against tax Armenian authorities will fight against tax "parasites"
Issues of implementation of a number of investment programs discussed  in the Armenian governmentIssues of implementation of a number of investment programs discussed  in the Armenian government
Best specialists of nuclear industry started annealing reactor vessel  metal of Armenian NPPBest specialists of nuclear industry started annealing reactor vessel  metal of Armenian NPP
Armenia will explore space with Russian partnersArmenia will explore space with Russian partners
Vahan Kerobyan: Armenia`s labor market has set a new recordVahan Kerobyan: Armenia`s labor market has set a new record
Papikyan announces investments in Gyumri in amount of about $ 8.5  millionPapikyan announces investments in Gyumri in amount of about $ 8.5  million
As part of 2025 strategy, EAEU will develop a concept for  implementation of principles of green economyAs part of 2025 strategy, EAEU will develop a concept for  implementation of principles of green economy
EEC supported  draft roadmap for formation of common market for  organic agricultural productsEEC supported  draft roadmap for formation of common market for  organic agricultural products
For 5 months of 2021, the mutual trade of the EAEU member states  increased by 33%For 5 months of 2021, the mutual trade of the EAEU member states  increased by 33%
SRC of Armenia reports on the next record in the number of jobsSRC of Armenia reports on the next record in the number of jobs
Electronic system of Electronic system of "single window" in the field of foreign trade  will be launched by the end of 2021
Deputy Minister of Economy of Armenia sent on an official trip to  Russia to discuss issues of bilateral trade and economic cooperationDeputy Minister of Economy of Armenia sent on an official trip to  Russia to discuss issues of bilateral trade and economic cooperation
Revazyan: After the formation of a national air carrier, Armenia will  appeal to Europe with a request, as an exception, to allow access to  the Revazyan: After the formation of a national air carrier, Armenia will  appeal to Europe with a request, as an exception, to allow access to  the "European sky"
Life on loan: In six months, Armenia`s public debt grew by $ 901  million - up to $ 8 billion 869 millionLife on loan: In six months, Armenia`s public debt grew by $ 901  million - up to $ 8 billion 869 million
Armenia considers possibility of canceling excise tax for winemakersArmenia considers possibility of canceling excise tax for winemakers
Armenian customs officers with Iranian colleagues discussed  modernization of Meghri checkpointArmenian customs officers with Iranian colleagues discussed  modernization of Meghri checkpoint
Government together with KfW, EIB and EU will allocate 81 million  euros to ensure water supply in several regions of ArmeniaGovernment together with KfW, EIB and EU will allocate 81 million  euros to ensure water supply in several regions of Armenia
Nikol Pashinyan visited Nikol Pashinyan visited "Saranist" glass production company and got  acquainted with activities of new brandy factory
Read more


Exchange rates
04.08.2021
RUB6.760.02
USD492.301.37
EUR583.770.45
GBP686.022.94
CAD392.800.50
JPY45.090.12
CNY76.140.16
CHF544.221.10