Saturday, September 16 2017 10:35
Svetlana Hovsepyan

Slow devaluation of AMD to the dollar is accompanied by a strengthening towards the euro

ArmInfo. The currency interbank of Armenia increased the volume by 12.7% from September 11 to September 15, after growing by 8.7% a week earlier. In parallel, dollar and euro transactions intensified on the intra-bank foreign exchange market, accompanied by an increased interest in buying up the ruble with continued passivity of sales. The exchange currency market continues to be empty.

As a result of this, AMD versus the dollar was replaced by a mood from strengthening to devaluation - from 478 to 478.3 AMD / $ 1, while becoming stronger to the euro - from 577 to 570 AMD / 1evro, and to the ruble - from 8.4 to 8.3 AMD / 1 rub. A year earlier, on September 15, 2016, the exchange rate of the dram to the dollar was 474.8 AMD / $ 1, to the euro 533 AMD / 1 euro, and to the ruble - 7.3 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 is empty for the fourth month. At the same time, transactions in the currency interbank market between $ 11.5 and $ 15.550 million were made at the weighted average rate of 478.48 AMD / $ 1 (versus the previous 478.31). In parallel, the trend of buying up the dollar in the intra-bank foreign exchange market sharply accelerated from 0.4% to 25.7% with a change in sales sentiment from a 16.5% decline to a 31.5% increase, euro buying also rebuilt from 8.9% decline on 0.3% growth with a sharp sales outflow from the 5.6% decline to 55.1% growth, the ruble buying from the 12.2% decline was replaced by 19, 8% growth in accelerating the decline in sales from 3.3% to 4.4%. As a result, $ 87.1 million was purchased at the average exchange rate of 477.63 AMD / $ 1, 9.2 million euro at the average rate of 569.58 AMD / 1EUR, and 1.4 billion rubles. at the average rate of 8.28 AMD / 1RUR, and sold $ 101.9 million at an average rate of 478.86 AMD / $ 1, 18.3 million euros at an average rate of 573.23 AMD / 1EUR, and483.98 million rubles. at the average rate of 8.38 AMD / 1RUR.

According to the source, over the previous week (from September 4 to 9), Armenian banks issued AMD 41.1 billion and USD 22.8 million in dram loans. In comparison with the previous period (from August 28 to September 2), the dynamics of issued loans is as follows: AMD accelerated growth from 1.8% to 4.1%, and the volume of dollars sharply changed the trend from 88.4% growth to 71.9% decline.

To note, in Q1 2017 on the exchange currency platform, a total of $ 3.3 million was effected, in particular, $ 600,000 was "lit" in January and February at the rate of 486.79 AMD / $ 1 and 487.08 AMD / $ 1, $ 1.5 million in March at a rate of 485 , 55 AMD / $ 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 - the 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).

POST A COMMENT
Input digits     


News
Number of vPOSs in Armenia already exceeds 4.5 thousandNumber of vPOSs in Armenia already exceeds 4.5 thousand
2-3 nuclear power units with capacity of 200 MW each would make it  possible to more effectively manage country`s energy system - PSRC  Chair2-3 nuclear power units with capacity of 200 MW each would make it  possible to more effectively manage country`s energy system - PSRC  Chair
ADB to provide  $3 million grant to Armenia to increase agricultural  flexibility and improve food security in rural areasADB to provide  $3 million grant to Armenia to increase agricultural  flexibility and improve food security in rural areas
By accepting 20% stake in MTS Armenia as gift, government sends  message to other companies:  PashinyanBy accepting 20% stake in MTS Armenia as gift, government sends  message to other companies:  Pashinyan
Micro-processing cards with NFC chip account for almost 70% of total  number of cards in Armenia, already reaching 2.6 millionMicro-processing cards with NFC chip account for almost 70% of total  number of cards in Armenia, already reaching 2.6 million
A Millionaire Wanted: New Draw from IdramA Millionaire Wanted: New Draw from Idram
PSRC: construction of Mets Masrik  industrial-scale solar power plant  in Armenia is nearing completionPSRC: construction of Mets Masrik  industrial-scale solar power plant  in Armenia is nearing completion
Wizz Air launches Budapest-Yerevan-Budapest direct flights Wizz Air launches Budapest-Yerevan-Budapest direct flights 
Temporary ban on gasoline exports from Russia will not affect ArmeniaTemporary ban on gasoline exports from Russia will not affect Armenia
14 Armenian tech companies participate in Mobile World Congress in  Barcelona14 Armenian tech companies participate in Mobile World Congress in Barcelona
Tax authorities propose not to tax labor migrants with annual income  of up to AMD 12 million Tax authorities propose not to tax labor migrants with annual income  of up to AMD 12 million 
Gnel Sanosyan: potential of industrial companies and specialists of  Armenia is growingGnel Sanosyan: potential of industrial companies and specialists of  Armenia is growing
ADB signed sale and purchase agreement with Bank of Georgia in  respect of its shares in AmeriabankADB signed sale and purchase agreement with Bank of Georgia in  respect of its shares in Ameriabank
Founder of ABBYY Group, David Yang, to Speak at Armenia`s First  Investment and Financial ForumFounder of ABBYY Group, David Yang, to Speak at Armenia`s First  Investment and Financial Forum
Armenia`s economic activity increased by 10.7% per annum in Jan 2024Armenia`s economic activity increased by 10.7% per annum in Jan 2024
Gevorg Mantashyan: High-Tech Ministry makes consistent efforts for  emergence and progress of startups in ArmeniaGevorg Mantashyan: High-Tech Ministry makes consistent efforts for  emergence and progress of startups in Armenia
S&P affirms Armenia`s sovereign rating at `BB`; Outlook Stable,  projectting GDP growth of 6.2% in 2024 S&P affirms Armenia`s sovereign rating at `BB`; Outlook Stable,  projectting GDP growth of 6.2% in 2024
Food Safety Inspectorate  did not reveal any violations at Jermuk  Group enterprise after inspectionFood Safety Inspectorate  did not reveal any violations at Jermuk  Group enterprise after inspection
Erik Tintrup: Germany will continue to assist Armenia in tourism  developmentErik Tintrup: Germany will continue to assist Armenia in tourism  development
Privileged conditions with the Business Prime packagePrivileged conditions with the Business Prime package
Armenia`s government to establish G Solution organization using  facilities of Ministry of Finance, State Revenue CommitteeArmenia`s government to establish G Solution organization using  facilities of Ministry of Finance, State Revenue Committee
Armenia ideally positioned to offer India alternative sea trade  route, especially with Europe - Armenian minister Armenia ideally positioned to offer India alternative sea trade  route, especially with Europe - Armenian minister 
Armenia`s government kept election pledge -premier Armenia`s government kept election pledge -premier 
Armenia`s authorities suspend taxation of labor migrants Armenia`s authorities suspend taxation of labor migrants 
Motor Insurers` Bureau informs about need to indicate bank account  number in CMTPL agreements from April 1, 2024; what foreigners should  do not yet reportedMotor Insurers` Bureau informs about need to indicate bank account  number in CMTPL agreements from April 1, 2024; what foreigners should  do not yet reported
In terms of GDP per capita, Armenia is in first place in South  Caucasus - Pashinyan In terms of GDP per capita, Armenia is in first place in South  Caucasus - Pashinyan
Russia ready to develop technological cooperation with Armenia -  ambassador Russia ready to develop technological cooperation with Armenia -  ambassador 
Team Telecom Armenia announces sale of eSIM cards Team Telecom Armenia announces sale of eSIM cards 
Ria Money Transfer has recognized Ardshinbank Partner of the YearRia Money Transfer has recognized Ardshinbank Partner of the Year
Tourism Committee, SDA to cooperate in tourism development in Lori,  Tavush, Vaiots Dzor, Syunik Tourism Committee, SDA to cooperate in tourism development in Lori,  Tavush, Vaiots Dzor, Syunik 
Armenian authorities` GDP forecasts for 2024 seem overstated - expert Armenian authorities` GDP forecasts for 2024 seem overstated - expert 
Expert on Armenia`s international trade growth against Expert on Armenia`s international trade growth against "miserable  trade pattern"  
Tatul Manaseryan: In case of utilization of competitive advantages,  Armenia`s business activity growth could be within 7-8% by end of  2024Tatul Manaseryan: In case of utilization of competitive advantages,  Armenia`s business activity growth could be within 7-8% by end of  2024
Rustam Badasyan: until issue of taxation of labor migrants is finally  resolved, no coercive measures will be usedRustam Badasyan: until issue of taxation of labor migrants is finally  resolved, no coercive measures will be used
Armenia`s GDP growth slowed to 8.7% in 2023Armenia`s GDP growth slowed to 8.7% in 2023
UBA Head: Armenian banking system RoE became comparable to countries  with similar economiesUBA Head: Armenian banking system RoE became comparable to countries  with similar economies
Decision that was made in 10 days - UBA chairman on HSBC Bank`s exit  from ArmeniaDecision that was made in 10 days - UBA chairman on HSBC Bank`s exit  from Armenia
Daniel Azatyan: in Armenia, highest lending growth was registered in  construction sector, with decrease in industrial sector Daniel Azatyan: in Armenia, highest lending growth was registered in  construction sector, with decrease in industrial sector 
Entry of bank with international brand into financial market of  Armenia always desirable and important - UBA chairmanEntry of bank with international brand into financial market of  Armenia always desirable and important - UBA chairman
Armenia`s commercial banks to be authorized to issue guarantees for  participation of Armenian companies in procurement in EAEUArmenia`s commercial banks to be authorized to issue guarantees for  participation of Armenian companies in procurement in EAEU
Net inflow of transfers to Armenia decreased by 36% in 2023Net inflow of transfers to Armenia decreased by 36% in 2023
Economist: Outflow of remittances from Armenia to continue to grow in  2024Economist: Outflow of remittances from Armenia to continue to grow in  2024
Transavia to start operating flights on route Lyon - Yerevan - Lyon Transavia to start operating flights on route Lyon - Yerevan - Lyon 
Ameriabank set to join BOGG, a London Stock Exchange (LSE) listed financial group as a standalone entityAmeriabank set to join BOGG, a London Stock Exchange (LSE) listed financial group as a standalone entity
Bank of Georgia announces proposed acquisition of Ameriabank for  $303.6 millionBank of Georgia announces proposed acquisition of Ameriabank for  $303.6 million
Former MP on economic situation in Armenia: Former MP on economic situation in Armenia: "What is brought by water  will go with water"
Armenia, Iran discuss possibilities of strengthening logistics ties  between  two countriesArmenia, Iran discuss possibilities of strengthening logistics ties  between  two countries
Which Book to Choose as a Gift for the Book Giving Day? A Piece of Advice from Idram and IDBankWhich Book to Choose as a Gift for the Book Giving Day? A Piece of Advice from Idram and IDBank
SRC: individuals-residents of Armenia must pay tax on income received  abroadSRC: individuals-residents of Armenia must pay tax on income received  abroad
Expert: SRC should have taxed labor migrants only after large-scale  information campaign for them, which was not doneExpert: SRC should have taxed labor migrants only after large-scale  information campaign for them, which was not done
Global economic growth to slow -EDBGlobal economic growth to slow -EDB
EDB expects fiscal policy to stimulate Armenian economy in 2024 EDB expects fiscal policy to stimulate Armenian economy in 2024 
Armenian Card: arca.am application to stop operating from Apr 15,  2024Armenian Card: arca.am application to stop operating from Apr 15,  2024
Bank of Georgia Group PLC announces possible transaction to acquire  Ameriabank CJSCBank of Georgia Group PLC announces possible transaction to acquire  Ameriabank CJSC
Armenian insurance sector profit decreased by 33% in 2023Armenian insurance sector profit decreased by 33% in 2023
With HSBC`s withdrawal, Armenia loses last transnational  institutional investor - analystsWith HSBC`s withdrawal, Armenia loses last transnational  institutional investor - analysts
Armenia amends Gyumri Urban Roads Project agreement with EBRDArmenia amends Gyumri Urban Roads Project agreement with EBRD
Moody`s assigns B2 rating to Electric Networks of ArmeniaMoody`s assigns B2 rating to Electric Networks of Armenia
Electric Networks of Armenia CJSC bonds successfully placed Electric Networks of Armenia CJSC bonds successfully placed 
Food Safety Inspection Authority of Armenia responds to  Rospotrebnadzor`s decision to suspended sale of Jermuk mineral waterFood Safety Inspection Authority of Armenia responds to  Rospotrebnadzor`s decision to suspended sale of Jermuk mineral water
Read more


Exchange rates
01.03.2024
RUB4.42-0.03
USD403.98-0.18
EUR436.74-1.29
GBP510.23-1.32
CAD297.550.15
JPY26.87-0.06
CNY56.12-0.04
CHF456.27-2.90