Saturday, November 18 2017 09:53
Svetlana Hovsepyan

AMD to the dollar began to strengthen, continuing to weaken towards the euro

AMD to the dollar began to strengthen, continuing to weaken towards  the euro

ArmInfo. The currency  interbank of Armenia sharply increased its volume almost 8 times  (from a 3.3-fold decline a week earlier) from November 13 to 17, and  during the week large deals were made on Tuesday and Wednesday. In  parallel with this, interest in dollar transactions increased  significantly in the domestic forex market, while euro transactions  were in decline, and in the ruble's plan, buying intensified. The  exchange market is empty for the sixth month.

As a result, the dram against the dollar in the reporting week began  to strengthen - from 487 to 486 dr / $ 1, continuing to weaken to the  euro - from 567 to 572.5 dr / 1evro, and to the ruble and further  strengthening - from 8.2 to 8.1 dr / rub. A year earlier, on November  17, 2016, the exchange rate of the dram to the dollar was 479 dr / $  1, to the euro - 512 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 told ArmInfo, in  the currency interbank market, transactions in the amount of $ 22.050  million were made from November 13 through November 17 at the  weighted average rate of 488.11 dp / $ 1 (against the previous  485.85), with the maximum volume falling on Tuesday and Wednesday - $  7.250 million and $ 8.6 million, and on the remaining days there were  $ 2- 2.2 million. In parallel with this, the trend of buying /  selling the dollar in the intra-bank foreign exchange market was  changed from a 8.8-0.5% decline to 60-24, 1% growth, with the slowing  down of the decline in euro buying / selling from 26.5-28% to  81-3.4%, buying up the ruble has changed dynamics from a 10.4%  decline to a 69% growth, with a slowdown in sales decline from 10.1%  to 0.8%. As a result, $ 114.2 million was purchased at the average  exchange rate of 486.74 dr / $ 1, 15 million euro at the average rate  of 569.95 dr / 1EUR, and 1.724 billion rubles. at the average rate of  8.13 dr / 1RUR, and sold $ 100.5 million at an average rate of 488.40  dr / $ 1, 14.4 million euro at the average rate of 573.67 dr / 1EUR,  and 633.8 million rubles. at the average rate of 8.21 dr / 1RUR.

According to the source, over the previous week (from November 6 to  11), Armenian banks issued AMD 47.4 billion drams and dollar loans  for $ 74.1 million. In comparison with the previous period (from  October 30 to November 4), the dynamics of loans issued is as  follows: dram dramatically changed the trend from ascending 19.3% to  a downward 30%, while the dollar sharply accelerated the growth rate  from 1.3% to 64%.

It should be noted that in January-September 2017, a total of $ 3.3  million was effected on the exchange currency platform, 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 from June to August  inclusive. The central bank made transactions in the currency market  only in January and September-September, in January and September, in  particular, in January it was fixed the sale of $ 15 million at the  rate of 485.84 dr / $ 1, and in June-September - the purchase of $  110.6 million accompanied by a slow strengthening of the rate from  480.73 to 478.49 dr / $ 1: June - $ 11.5 million, July - $ 51.5  million, August - $ 29.9 million and September - $ 17.7 million. For  the entire year 2016 the exchange currency market showed signs of  life occasionally - March-May, and the Central Bank bought dollars in  the foreign exchange market in April ($ 2.4 million), June ($ 50.2  million), August ($ 19.8 million), se ber ($ 28.8) and 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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