Saturday, April 29 2017 11:30
Svetlana Hovsepyan

AMD is determined to devalue against USD and EUR

AMD is determined to devalue against USD and EUR

ArmInfo. The currency interbank of Armenia increased its volume by 58.1% from April 25 to 28, after growing by 16.2% a week earlier. At the same time, there was a decrease in interest on the intrabank foreign exchange market - low multidirectional dynamics with a slow upward trend in sales. Exchange market is empty for now.

As a result, AMD for the reporting week changed the mood towards the USD from revaluation to devaluation - from 484.5 to 485 AMD/USD1, continuing to weaken to the EUR from 518 to 527 AMD/EUR1, while strengthening against the RUR from 8.6 up to 8,5 AMD/RUR1. A year earlier, in April 2016, the AMD strengthened against USD from 481 to 479 AMD/USD1, weakening to the EUR from 544 to 545 AMD/EUR1, while devaluing to the RUR from 7.1 to 7.5 AMD/RUR1, which compared with current rates indicates the annual devaluation of the AMD to the USD and the RUR, with revaluation to the EUR.

As the press service of the Central Bank of Armenia told ArmInfo, on April 25-28 transactions in the amount of $ 10.750 million at the average rate of 484.68 AMD/USD1 (against the previous 485.18) were conducted at the currency interbank market. Currency interbank increased volumes in the first half of the week with a maximum of $ 5 million on Thursday, with the closing of the week at the threshold of $ 1.2 million. In parallel, the volume of buying up USD from the 4.5% growth in the intrabank foreign exchange market went to 6 , 6% decline in parallel with the slackening of growth of sales from 8.7% to 1.2% in EUR operations also buying a 6.7% increase slackened  to 16.2% strength decline with negligible acceleration of growth of sales from 10% to 12.7%, against the background of what the rising dynamics of RUR operations are now showed mixed trend - decline of purchase by 2% and sales growth by 11.2%. As a result, it was bought $ 70.6 million at the average exchange rate of 483.80 AMD/USD1, 9.3 mln Euros at the average exchange rate of 523.62 AMD/EUR1 and 860.96 million RUR at the average rate of 8.55 AMD/RUR1, and sold $ 81.5 million at an average rate of 485.20 AMD/USD1, 12.4 million EUR at an average rate of 527.39 AMD/EUR1 and 472.8 million RUR at an average rate of 8.63 AMD/RUR1.

According to the source, over the previous week (from April 17 to 22), Armenian banks issued AMD 49.2 billion and USD loans for $ 35.6 million. In comparison with the previous period (April 10-15), the dynamics of loans issued is as follows: AMD 5, the 2% decline was replaced by a 17.4% growth, and in USD terms, on the contrary, a 24.8% rise in falls to a 34.4% decline.  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).

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