Monday, September 25 2017 10:11
Svetlana Hovsepyan

The dram began to get appreciated against the dollar while weakening to the Euro

The dram began to get appreciated  against the dollar while weakening  to the Euro

ArmInfo. The currency  interbank of Armenia reduced the volume two-fold from September 19 to  September 23, after growing by 12.7% a week earlier. In parallel, the  in-bank foreign exchange market was marked by the passiveness of  dollar transactions, accompanied by a decline in sales of the euro  and the ruble, with the continuing activity of buying up these  currencies. The exchange currency market continues to be empty.

As a result, the dram against the dollar was replaced by the mood  from devaluation to strengthening - from 478.3 to 477.5 dr / $ 1,  while weakening to the euro - from 570 to 571 dr / 1evro and delayed  to the ruble at 8.3 dr / 1 rub. A year earlier, on September 23,  2016, the exchange rate of the dram to the dollar was 473.5 dr / $ 1,  to the euro - 530 dr / 1evro, and to the ruble - 7.4 dr / ruble,  which, in comparison with the current rates, indicates the annual  devaluation of the dram to these currencies. 

As the press service of the Central Bank of Armenia has informed  ArmInfo, the NASDAQ OMX Armenia currency market is empty for the  fourth month. At the same time, transactions in the amount of $ 7.9  million were made at the interbank interbank market at the weighted  average rate of 478.12 dr / $ 1 (against the previous 478.48). At the  same time, the trend of buying / selling the dollar in the intra-bank  foreign exchange market changed the trend from 25.7-31.5% growth to  15.8 - 21.1%, the euro buying up the growth from 0.3% to 9.8% with  sharply slacked sales from 55.1% growth to a 30.6% decline, ruble  buying slowed growth from 19.8% to 5.6% with the acceleration of a  decline in sales from 4.4% to 12 , 6%. As a result, $ 73.3 million  was purchased at the average exchange rate of 477.40 dr / $ 1, 10.1  million euro at the average rate of 570.18 dr / 1EUR, and 1.5 billion  rubles. at an average rate of 8.21 dr / 1RUR, and sold $ 80.4 million  at an average rate of 478.90 dr / $ 1, 12.7 million euro at an  average rate of 574.78 dr / 1EUR, and 423.4 million rubles. at the  average rate of 8.31 dr / 1RUR.

According to the source, over the previous week (from 11 to 16  September), Armenian banks issued AMD 45.2 billion drams and dollar  loans for $ 56.9 million. In comparison with the previous period  (from September 4 to 9), the dynamics of loans issued is as follows:  AMD accelerated growth from 4.1% to 10%, and the volume of dollar  sharply increased by 2.5 times against 71.9% decline a week earlier.   It should be noted that in January-July 2017, a total of $ 3.3  million was effected on the exchange currency market, in particular,  $ 600,000 was "lit" in January and February at the rate of 486.79 dr  / $ 1 and 487.08 dr / $ 1, $ 1.5 million in March at the rate of  485.55 dr / $ 1, and $ 600 thousand - in May at the rate of 482.80 dr  / $ 1. During this period, there were no transactions at the exchange  currency market in April and June. In January-July, the central bank  made transactions in the currency market only in January, June and  July, in particular, in January it was fixed sale of $ 15 million at  the rate of 485.84 dr / $ 1, and in June and July - purchase of $  11.5 million and $ 51.5 million at the rate of respectively 480.73  and 479.04 dr / $ 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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