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).

POST A COMMENT
Input digits     


News
Armenia`s energy output 5.9% up by Dec 2024 as compared with Dec 2023 Armenia`s energy output 5.9% up by Dec 2024 as compared with Dec 2023 
RA State Revenue Committee explains tax bill submission procedures in  2025 RA State Revenue Committee explains tax bill submission procedures in  2025 
Armenian producers to take part in PRODEXPO-2025 exhibitionArmenian producers to take part in PRODEXPO-2025 exhibition
Armenia`s Ministry of Finance, Ministry of Economy exchange functions Armenia`s Ministry of Finance, Ministry of Economy exchange functions 
Armenia, U.S. to initiate working group to strengthen enforcement of  export controls for dual-use goodsArmenia, U.S. to initiate working group to strengthen enforcement of  export controls for dual-use goods
Foreign investments flow from offshore Jersey to Armenia resumedForeign investments flow from offshore Jersey to Armenia resumed
Armenia, Iran must continue cooperation in all fields - minister Armenia, Iran must continue cooperation in all fields - minister 
Aghasi Tavadyan: Real incomes of Armenian families experienced   growthAghasi Tavadyan: Real incomes of Armenian families experienced   growth
Ameriabank Raises $200 Million from IFC, Marking the Largest Transaction by IFC ever with a Financial Institution in ArmeniaAmeriabank Raises $200 Million from IFC, Marking the Largest Transaction by IFC ever with a Financial Institution in Armenia
ARMSWISSBANK JOINS COMMUNITY OF RESPONSIBLE BANKS AS A UNEP FI MEMBERARMSWISSBANK JOINS COMMUNITY OF RESPONSIBLE BANKS AS A UNEP FI MEMBER
Armenia, Iran to expand cooperation in industry, agriculture tourism Armenia, Iran to expand cooperation in industry, agriculture tourism 
Armenia`s membership in EAEU extremely important for country`s  economy - Samvel Karapetyan Armenia`s membership in EAEU extremely important for country`s  economy - Samvel Karapetyan 
In 2024, Armenia saw 7% decrease in tourist arrivals compared to 2023In 2024, Armenia saw 7% decrease in tourist arrivals compared to 2023
Yeraskh metallurgical plant to start mass production in  February-March this yearYeraskh metallurgical plant to start mass production in  February-March this year
Minister of Economy: Exiting EAEU is not on government`s agendaMinister of Economy: Exiting EAEU is not on government`s agenda
Gevorg Papoyan: Amulsar project to boost Armenia`s economy with an  extra $120 mln in annual taxesGevorg Papoyan: Amulsar project to boost Armenia`s economy with an  extra $120 mln in annual taxes
Risks of exiting EAEU are obvious: Finance MinisterRisks of exiting EAEU are obvious: Finance Minister
Gevorg Papoyan on the Gevorg Papoyan on the "Dry Port" project: We are also considering a  more detailed study for final economic impact calculations 
Armenia`s ministry of finances revises GDP growth forecast down Armenia`s ministry of finances revises GDP growth forecast down 
WB loan to be spent on modernizing three electric power substations WB loan to be spent on modernizing three electric power substations 
Head of Armenia`s State Revenue Committee, U.S. ambassador to Armenia  highlight importance of creating more effective mutual trade  environment Head of Armenia`s State Revenue Committee, U.S. ambassador to Armenia  highlight importance of creating more effective mutual trade  environment 
Government`s economic policy success - minister Government`s economic policy success - minister 
Armenia`s public funds to meet CB-set requirements Armenia`s public funds to meet CB-set requirements 
What economic growth would Armenia record but for re-exportWhat economic growth would Armenia record but for re-export
IRI Chief Customs Officer: Iran`s largest share of exports within  EAEU belongs to Russia, Armenia and KazakhstanIRI Chief Customs Officer: Iran`s largest share of exports within  EAEU belongs to Russia, Armenia and Kazakhstan
Armenian interbank foreign exchange market inactive in first week of  2025Armenian interbank foreign exchange market inactive in first week of  2025
In Armenia, wine production decreased by 27.1% over 11 months, while  cognac production increased by 4.9%In Armenia, wine production decreased by 27.1% over 11 months, while  cognac production increased by 4.9%
By December 2024, the industrial sector saw an increase in its growth  rateBy December 2024, the industrial sector saw an increase in its growth  rate
In 2024, Armenia`s inflation rate  was 1.5%  In 2024, Armenia`s inflation rate  was 1.5%  
In Armenia, economic activity growth slowed down from 9.4% to 7.4% in  January-November 2024In Armenia, economic activity growth slowed down from 9.4% to 7.4% in  January-November 2024
Armenia`s unemployment rate rose from 12% to 13.3%  Armenia`s unemployment rate rose from 12% to 13.3%  
Armenia`s Trade Unions Head: Changes in working hours will not impact  the country`s economic growth Armenia`s Trade Unions Head: Changes in working hours will not impact  the country`s economic growth 
Armenia`s premier reports 400% increase in Armenia-EU passenger  traffic over last 7 yearsArmenia`s premier reports 400% increase in Armenia-EU passenger  traffic over last 7 years
Mayler company to invest AMD 12bln in Yegipatrush ski resort in 2025Mayler company to invest AMD 12bln in Yegipatrush ski resort in 2025
WB to help Armenia implement water programmeWB to help Armenia implement water programme
Overchuk: EAEU and EU are incompatible. Yerevan will have to make a  choiceOverchuk: EAEU and EU are incompatible. Yerevan will have to make a  choice
In January, Armenia will submit its proposed amendments to the  intergovernmental agreement on television broadcasting to the Russian  side In January, Armenia will submit its proposed amendments to the  intergovernmental agreement on television broadcasting to the Russian  side 
Mkhitar Hayrapetyan: The way Armenia uses satellite images does not  concern our Spanish partnersMkhitar Hayrapetyan: The way Armenia uses satellite images does not  concern our Spanish partners
In 2024, Syunik Airport operated 71 flights between Yerevan and KapanIn 2024, Syunik Airport operated 71 flights between Yerevan and Kapan
David Khudatyan on the construction of a nuclear power plant: We are  considering proposals not only from the Russian Federation and the  United States, but also from other countriesDavid Khudatyan on the construction of a nuclear power plant: We are  considering proposals not only from the Russian Federation and the  United States, but also from other countries
EIB to grant EUR 10.1mln to Armenia for energy efficiency programme  in Yerevan EIB to grant EUR 10.1mln to Armenia for energy efficiency programme  in Yerevan 
Sisian-Kajaran section of North-South project planned to be completed  by end of 2031 Sisian-Kajaran section of North-South project planned to be completed  by end of 2031 
Railway passenger traffic 4.6% up in Armenia in 2024Railway passenger traffic 4.6% up in Armenia in 2024
Luys Foundation: Following the results of 2024, Armenia`s economic  growth  may be below 5.8%Luys Foundation: Following the results of 2024, Armenia`s economic  growth  may be below 5.8%
Armenia`s State Treasury experienced a revenue loss of 224 bln AMD in  2024Armenia`s State Treasury experienced a revenue loss of 224 bln AMD in  2024
Cadastral map in Kirants changed: Suren Tovmasyan refrains from  commenting on delimitation commission`s actions Cadastral map in Kirants changed: Suren Tovmasyan refrains from  commenting on delimitation commission`s actions 
Housing transactions in Armenia increased by about 13%Housing transactions in Armenia increased by about 13%
Head of Cadastre Committee warns against unauthorized building  projects Head of Cadastre Committee warns against unauthorized building  projects 
Ardshinbank s Nominal Forest Has Been PlantedArdshinbank s Nominal Forest Has Been Planted
AMD 59bln subvention programmes implemented in Armenia in 2024AMD 59bln subvention programmes implemented in Armenia in 2024
UMI to equally cover all insured persons - bill UMI to equally cover all insured persons - bill 
EAEU major actor in international economic relations - RF MFA EAEU major actor in international economic relations - RF MFA 
12.5% of Lydian Armenia CJSC stock gifted to the RA Government12.5% of Lydian Armenia CJSC stock gifted to the RA Government
Certain activity in Armenia`s interbank foreign exchange market  during last week of 2024 Certain activity in Armenia`s interbank foreign exchange market  during last week of 2024 
May the Holiday Warm Hearts: Idram and IDBank Support the Children of HeroesMay the Holiday Warm Hearts: Idram and IDBank Support the Children of Heroes
Armenia`s authorities to reduce compensations under Targeted Program  for Attracting Highly Qualified Specialists Armenia`s authorities to reduce compensations under Targeted Program  for Attracting Highly Qualified Specialists 
Armenia`s government imposes temporary ban on export of whitefish  caviar Armenia`s government imposes temporary ban on export of whitefish  caviar 
Armenia amends loan agreement on Kaps reservoir construction with KFWArmenia amends loan agreement on Kaps reservoir construction with KFW
Armenia to join first international document on AIArmenia to join first international document on AI
EC to issue EUR 12.9mln grant to Armenia to improve nuclear and  radiation safety EC to issue EUR 12.9mln grant to Armenia to improve nuclear and  radiation safety 
Read more
Exchange rates
14.01.2025
RUB3.87-0.01
USD397.780.56
EUR408.042.96
GBP484.732.74
CAD276.601.48
JPY25.20-0.04
CNY54.260.08
CHF434.210.85