Saturday, August 19 2017 09:36
Svetlana Hovsepyan

AMD began to slowly weaken versus the dollar, having rebuilt to the euro for strengthening

AMD began to slowly weaken versus the dollar, having rebuilt to the  euro for strengthening

ArmInfo. The currency  interbank of Armenia reduced the volume 1.6 times from August 14 to  August 17, after growing almost 2 times a week ago. At the same time,  dollar and euro purchases intensified on the intra-bank foreign  exchange market with the decline in interest in selling these  currencies, while ruble sales continued to fall in terms of sales,  but at a relatively slow pace with a change in buying dynamics from a  recession to growth. Exchange currency market continues to be empty.

As a result, the dram against the dollar began to weaken slowly -  from 478 to 478.5 AMD / $ 1, having rebuilt to euro for strengthening  - from 563 to 562 AMD / 1evro, while slightly shifting to the ruble  in the direction of devaluation - from 8 to 8.1 Dr / rub. A year  earlier, on August 17, 2016, the exchange rate of the dram to the  dollar was 475.5 AMD / $ 1, to the euro - 534 AMD / 1 euro, and to  the ruble - 7.4 AMD / ruble, which, in comparison with the current  rates, indicates the annual devaluation of the dram to these  currencies.

According to Armenian Central Bank press service, NASDAQ OMX Armenia  exchange currency market has been vacant for the third month. At the  same time, transactions in the volume of $ 7.7 million were made at  the interbank currency exchange between August 14 and August 17 at  the weighted average rate of 478.71 AMD / $ 1 (against the previous  478.90). At the same time, in the domestic forex market, dollar  buying out of a 16% decline in the 3.8% growth with a change in the  sales trend from a 1% growth to a 17% decline, euro buying also came  out of the 15% Decline in the 11.7% growth with a decelerated sales  dynamics from 21.4% growth to 13.1% decline, buying up the ruble from  a 6.5% decline came in 8.4% Slowdown in the rate of decline in sales  from 9.8% to 3.9%. As a result, $ 82.02 million was purchased at the  average exchange rate of 477.69 AMD / $ 1, 11.5 million euro at the  average rate of 560 AMD / 1EUR, and 1.3 billion rubles. At an average  rate of 7.96 AMD / 1RUR, and sold $ 71.9 million at an average rate  of 479.05 AMD / $ 1, 15.3 million euro at an average rate of 564.19  AMD / 1EUR, and 441.99 million rubles at the average rate of 8.06 AMD  / 1RUR.

According to the source, over the previous week (from August 7 to  12), Armenian banks issued AMD 42.8 billion in dram loans and $ 30.2  million in dollar loans. In comparison with the previous period (from  July 31 to August 5), the dynamics of loans issued is as follows: AMD  Of the 3.9% decline in the 15.1% growth, while the dollar decreased  by 46.1%.

To note, in Q1 2017, total of $ 3.3 million was effected on the  exchange currency platform, in particular, $ 600,000 was "lit" in  January and February at the rate of 486.79 AMD / $ 1 and 487.08 AMD /  $ 1, respectively , $ 1.5 million in March at the rate of 485.55 dr /  $ 1, and $ 600 thousand - in May at the rate of 482.80 AMD / $ 1.  During this period, there were no transactions at the exchange  currency market in April and June. The central bank made transactions  in the currency market only in January and June during the first half  of 2017, in particular, in January it was fixed the sale of $ 15  million at the rate of 485.84 AMD / $ 1, and in June - purchase of $  11.5 million at the rate of 480.73 AMD / $ 1. For the full year of  2016, the exchange currency market gave signs of life  occasionally-for one operation in March-May, and the Central Bank  bought dollars in April ($ 2.4 million), June ($ 50.2 million),  August ($ 19.8 million), September ($ 28.8) And in October ($ 50.8  million), and sold in January ($ 53.1 million), February ($ 41.5  million), November ($ 13.1 million) and December ($ 15 million).

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