Saturday, November 4 2017 10:20
Svetlana Hovsepyan

AMD continued devaluation against the dollar, losing ground to the euro

ArmInfo. The interbank  currency market of Armenia increased by 3.3% from October 30 to  November 3, after a decline of 19.6% a week earlier. At the same  time, the growth in the buying up of dollars was observed on the  intra-bank foreign exchange market with the decline in sales, euro  transactions from the passive phase sharply entered into an active  one, along with the interest in buying up the ruble with an  accelerating upward trend in sales. The exchange market is empty for  the sixth month.

As a result, the dram against the dollar in the reporting week  continued to weaken from 482.5 to 484.3 AMD / $ 1, losing its  positions and to the euro from 561 to 565 AMD / 1 euro, delaying to  the ruble at the level of 8.3 AMD / 1 ruble . A year earlier, on  November 3, 2016, the exchange rate of the dram to the dollar was  476.3 AMD / $ 1, to the euro - 530 AMD / 1evro, and to the ruble -  7,5 AMD / 1 ruble, which, in comparison with the current rates,  indicates the annual devaluation of the AMD to these currencies.

According to the press service of Armenian Central Bank, from October  30 to November 3, inclusive, $ 9.3 million transactions were carried  out at a weighted average rate of 483.61 dr / $ 1 (against the  previous 482.06), with a maximum volume of $ 4.6 million on Tuesday  and a minimum of $ 1.2 million were "lit up" on Thursday. On Friday,  the interbank foreign exchange was empty. In parallel, the trend of  buying up the dollar in the intra-bank foreign exchange market  changed from a 14.5% decline to a 9.9% rise, with a slowdown in the  sales decline from 5% to 3.8%, buying / selling the euro changed its  dynamics from 15, A 1-2.4% decline in the 41.3-25.5% increase, and  ruble buying accelerated the decline from 0.1% to 16.1% with the  acceleration of sales growth from 11.3% to 33.7 %. As a result, $  78.3 million was purchased at the average exchange rate of 482.24 AMD  / $ 1, 11.3 million euro at the average rate of 560.67 AMD / 1EUR,  and 1.14 billion rubles at the average rate of 8.27 AMD / 1RUR, and  sold $ 81.4 million at an average rate of 483.93 AMD / $ 1, 20.7  million euro at an average rate of 564.02 AMD / 1EUR, and 710.8  million rubles at the average rate of 8.36 AMD / 1RUR.

According to the source, over the previous week (from October 23 to  October 28), Armenian banks issued AMD 56.6 billion in dram loans and  $ 44.6 million in dollar loans. In comparison with the previous  period (October 16 to 21), the dynamics of loans issued are as  follows: AMD accelerated growth rates from 22 , 7% to 24.7%, and the  dollar sharply worsened the trend from 42.4% growth to a 38.2%  decline.

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