Saturday, October 7 2017 10:51
Svetlana Hovsepyan

AMD continues to slowly weaken versus the dollar while further strengthening to the euro

AMD continues to slowly weaken versus the dollar while further strengthening to the euro

ArmInfo. The currency interbank of Armenia sharply reduced the volume by 1.7 times from October 2 to 6, after a sharp increase of 3.3 times a week earlier. In parallel, the in-house foreign exchange market was marked by the inactivity of dollar transactions with the active buying and selling of the euro, accompanied by a decline in interest in ruble transactions. The exchange currency market continues to be empty.

As a result, the dram against the dollar continued to slowly weaken from 478.3 to 478.5 AMD / $ 1, while further strengthening to the euro - from 563 to 561 AMD / 1evro and holding the position to the ruble at 8.3 AMD / ruble . A year ago, on October 6, 2016, the exchange rate of  AMD to the dollar was 474.8 AMD / $ 1, to the euro - 531 AMD / 1evro, and to the ruble - 7.6 AMD / ruble, which in comparison with the current rates indicates the annual devaluation of  AMD to these currencies.

According to Armenian Central Bank press service, the currency exchange of NASDAQ OMX Armenia is already empty for the fifth month. At the same time, transactions in the amount of $ 14.9 million at the average weighted rate of 478.86 AMD / $ 1 (against the previous 478.58) were carried out on the interbank currency market from 2 to 6 October, with the week started actively - $ 3.4 million, significantly slowing down the turnover on Tuesday - to $ 1.4 million, with a jump on Wednesday to $ 4.4 million, after which Thursday was as passive as Tuesday, and Friday repeated Wednesday. In parallel, the trend of buying / selling the dollar in the domestic forex market dropped from 48.7-39.3% to a 7-4% decline, buying the euro has changed dynamics from a 21.8% decline to 44.3% % growth with a slowdown in sales growth from 36.2% to 21.4%, and buying-selling of the ruble changed the trend from 4.8-47% growth to 11.9-3.8% decline. As a result, $ 101.4 million was purchased at the average exchange rate of 477.63 AMD / $ 1, 11.4 million euro at the average rate of 560.24 AMD / 1EUR, and 1.4 billion rubles. at the average rate of 8.23 dr / 1RUR, and sold $ 107.2 million at an average rate of 478.81 AMD / $ 1, 21.03 million euro at an average rate of 564.35 AMD / 1EUR, and 598.8 million rubles at the average rate of 8.32 AMD / 1RUR.

According to the source, over the previous week (from September 25 to 30), Armenian banks issued AMD 49.7 billion AMD and dollar loans for $ 70.8 million. Compared to the previous period (from September 18 to September 23), the dynamics of loans issued is as follows: drams out of 12.8 % decline on 26% growth, and the same trend change, but with a more significant gap, was observed in dollar terms - a way out of the 18% decline in the $ 52% growth.

To note, in January-July 2017, the total amount of transactions on the exchange currency platform was $ 3.3 million, 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 the 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. 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 AMD / $ 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 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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