Saturday, February 3 2018 10:05
Svetlana Hovsepyan

AMD began to weaken against the dollar, slowing rate of devaluation to the euro

AMD began to weaken against the dollar, slowing rate of devaluation to the euro

ArmInfo. The currency interbank of Armenia from January 29 to February 2 this year in comparison with the previous week, it decreased only by 38.1%, after a meager decline by 0.5% a week earlier. And, during the week only on Friday, no deals were made, and on the remaining days, the maximum volume of excelled Thursday and Tuesday.

In parallel with this, on the intra- bank foreign exchange market, players activated dollar and euro transactions, reducing interest in ruble deals. The exchange currency market continues to be empty. As a result, the dram against the dollar began to weaken - from 480.5 to 481.5 AMD / $ 1, slowing the rate of devaluation to the euro - from 599.5 to 601.5 AMD / 1evro, and froze to the ruble at 8.6 AMD / 1 rub. A year earlier, on February 2, 2017, the exchange rate of the dram to the dollar was 486 AMD / $ 1, to the euro - 525 AMD / 1evro, and to the ruble - 8.1 AMD / ruble, which, in comparison with the current rates, indicates the annual devaluation of the dram to the euro and ruble at revaluation to the dollar.

According to the press service of the Armenian Central Bank, On January 29 through February 2 inclusive, transactions were made in the volume of $ 6.5 million at the weighted average rate of 480.86 AMD / $ 1 (against 480.77 AMD / $ 1 a week earlier), with the maximum volumes recorded on Thursday and Tuesday - $ 2.2 million and $ 2 million. In parallel, the trend of buying up the dollar in the intra-bank foreign exchange market was changed from a 0.6% decline in the 11% growth compared to the previous week, while accelerating sales growth from 15.8% to 16.6% , the dynamics of euro buying also changed from a 41% decline to a 53.8% growth with a sharp acceleration in sales growth from 18.3% to 45.1%, the background of which the ruble buying rebuilt from an 18% growth to a 30% decline, and the sale accelerated the decline from 1.3% to 17%. As a result, $ 87.02 million was purchased at the average rate of 480.13 AMD / $ 1, 11.9 million euro at the average exchange rate of 595.26 AMD / 1EUR, and 848.9 million rubles. at the average rate of 8.50 AMD / 1RUR, and sold $ 106.1 million at an average rate of 481.38 AMD / $ 1, 20.6 million euro at an average rate of 598.68 AMD / 1EUR, and 385.2 million rubles at the average rate of 8.61 dr / 1RUR.

According to the source, over the previous week (from January 22 to 27), Armenian banks issued AMD 54.5 billion in dram loans and $ 56.8 million in dollar loans. In comparison with the previous period (from January 15 to January 20), the dynamics of loans issued deteriorated: drams from 34.5 % growth "moved" to a 31.5% decline, while the dollar slumped from 41.7% to 1%.

In January-November 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 a 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 from June to November inclusive. In January-November 2017, the central bank performed operations in the currency market only in January, June-September and November, buying $ 110.6 million in total and selling $ 22 million. In particular, in January 2017, the Central Bank in the foreign exchange market sold $ 15 million at the rate of 485 , 84 AMD / $ 1, followed by a four-month lull, after which in June-September a total of $ 110.6 million was purchased with a slow appreciation from 480.73 to 478.49 AMD / $ 1: June - $ 11.5 million, July - $ 51.5 million, August - $ 29.9 million and September - $ 17.7 million, then again a pause - this time only for a month, and then in November there was a sale $ 7 million at the rate of 485.54 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). 


News
Iranian entrepreneurs are interested in opening joint ventures with  Armenia in a number of areasIranian entrepreneurs are interested in opening joint ventures with  Armenia in a number of areas
Major Armenian-Russian business forum to be held in YerevanMajor Armenian-Russian business forum to be held in Yerevan
Gyumri Shirak Airport is ready to serve European budget flightsGyumri Shirak Airport is ready to serve European budget flights
Mher Grigoryan reports on certain difficulties in negotiations with  GazpromMher Grigoryan reports on certain difficulties in negotiations with  Gazprom
Standing Parliamentary Committee on Financial-Credit and Budgetary  Affairs approved Artak Manukyan`s candidacy for the position of  member of the Central Bank CouncilStanding Parliamentary Committee on Financial-Credit and Budgetary  Affairs approved Artak Manukyan`s candidacy for the position of  member of the Central Bank Council
Mher Grigoryan: In terms of the opening of railways, solutions began  to be consideredMher Grigoryan: In terms of the opening of railways, solutions began  to be considered
GeoProMining  announces  completion of the second stage of Agarak CMC  modernization project GeoProMining  announces  completion of the second stage of Agarak CMC  modernization project 
IMF sharply improved its forecast for GDP growth in Armenia for 2021 to 6.5%, but warns: IMF sharply improved its forecast for GDP growth in Armenia for 2021 to 6.5%, but warns: "Downside risks remain elevated" 
Economy Minister considers Central Bank`s updated economic forecasts  as pessimisticEconomy Minister considers Central Bank`s updated economic forecasts  as pessimistic
Armenian government to allocate about 357.5 million drams to complete  15 subvention programsArmenian government to allocate about 357.5 million drams to complete  15 subvention programs
Economy Minister on the situation with Iranian trucks: We have a  Economy Minister on the situation with Iranian trucks: We have a  "Plan B"
 Armenian accountants and auditors can grow professionally with help  of British Association of Chartered Certified Accountants Armenian accountants and auditors can grow professionally with help  of British Association of Chartered Certified Accountants
Armenian government approves the ratification of the Agreement of the  CIS countries in the fight against IT crimesArmenian government approves the ratification of the Agreement of the  CIS countries in the fight against IT crimes
Armenia and Singapore exclude double taxationArmenia and Singapore exclude double taxation
Government of Armenia ratified the agreement between the governments  of the Republic of Armenia and the Republic of Malta on the avoidance  of double taxationGovernment of Armenia ratified the agreement between the governments  of the Republic of Armenia and the Republic of Malta on the avoidance  of double taxation
The leadership of SRC of Armenia at a meeting with the head of the  FCS of the Russian Federation noted the special importance of  enhancing contactsThe leadership of SRC of Armenia at a meeting with the head of the  FCS of the Russian Federation noted the special importance of  enhancing contacts
American company Wabtec shows interest in the Armenian market American company Wabtec shows interest in the Armenian market 
Deputy Prime Minister on a possible increase in gas prices: Gazprom  insists that the amount of profit stipulated in the 2013 agreement  does not satisfy themDeputy Prime Minister on a possible increase in gas prices: Gazprom  insists that the amount of profit stipulated in the 2013 agreement  does not satisfy them
Drip irrigation. 5 questions and answers with Converse BankDrip irrigation. 5 questions and answers with Converse Bank
World Bank`s updated Groundswell report warns: Climate change could  force 216 million people to migrate within their own countries by  2050World Bank`s updated Groundswell report warns: Climate change could  force 216 million people to migrate within their own countries by  2050
Expert: The unprecedented rise in gas prices in Europe and EAEU  membership open new opportunities for ArmeniaExpert: The unprecedented rise in gas prices in Europe and EAEU  membership open new opportunities for Armenia
Central Bank of Armenia: In Jan-July 2021, the net inflow of  transfers from individuals increased by 78.5% per annumCentral Bank of Armenia: In Jan-July 2021, the net inflow of  transfers from individuals increased by 78.5% per annum
Efforts are underway to enhance seismic safety at Armenian NPPEfforts are underway to enhance seismic safety at Armenian NPP
EEC Forecast: In 2022, the negative foreign trade balance in the EAEU  will be reduced from $ 5.8 billion to $ 2.5 billion EEC Forecast: In 2022, the negative foreign trade balance in the EAEU  will be reduced from $ 5.8 billion to $ 2.5 billion 
Central Bank of Armenia: Consistent tightening of monetary conditions  has a sufficient impact on the regulation of progressive consumer  demand and on curbing of  inflationCentral Bank of Armenia: Consistent tightening of monetary conditions  has a sufficient impact on the regulation of progressive consumer  demand and on curbing of  inflation
Central Bank upgrades Armenia`s economic growth forecast for 2021 to  5.6%Central Bank upgrades Armenia`s economic growth forecast for 2021 to  5.6%
Central Bank Governor: Inflation in Armenia is more supply-drivenCentral Bank Governor: Inflation in Armenia is more supply-driven
Central Bank: Transfers from USA to Armenia are growing rapidlyCentral Bank: Transfers from USA to Armenia are growing rapidly
Armenia and Ukraine launched the improvement of trade and economic  relationsArmenia and Ukraine launched the improvement of trade and economic  relations
Official and real y-o-y inflation continues to accelerate in ArmeniaOfficial and real y-o-y inflation continues to accelerate in Armenia
Central Bank of Armenia once again raised the refinancing rate - from  7% to 7.25%Central Bank of Armenia once again raised the refinancing rate - from  7% to 7.25%
About 2 billion drams to be allocated for the installation of  photovoltaic stations in seven regions of ArmeniaAbout 2 billion drams to be allocated for the installation of  photovoltaic stations in seven regions of Armenia
"Veolia Djur" proposes to increase water tariff by 43.7 drams
Mher Grigoryan: Trade and economic relations between Armenia and  Ukraine have great potential for developmentMher Grigoryan: Trade and economic relations between Armenia and  Ukraine have great potential for development
"Become a shareholder": ACBA Bank issued its first 500.000 shares  with a total volume of 7.5 billion drams
IDBank as a sponsor of the charity concert IDBank as a sponsor of the charity concert "Armenian Rock for Children with Cancer"
As of September 10, 2021, tax collection exceeded indicators of  pre-crisis 2019 by 4.9% in ArmeniaAs of September 10, 2021, tax collection exceeded indicators of  pre-crisis 2019 by 4.9% in Armenia
The collector coin dedicated to the 30th anniversary of the Republic  of Armenia has been issued by Central BankThe collector coin dedicated to the 30th anniversary of the Republic  of Armenia has been issued by Central Bank
Minister of Finance of Armenia and Ambassador of India discussed  possible directions for development of cooperationMinister of Finance of Armenia and Ambassador of India discussed  possible directions for development of cooperation
 Construction of Construction of "Friendship Bridge" on Armenian-Georgian border is in  full swing
Armenia reduced exports of molybdenum, zinc and copper concentratesArmenia reduced exports of molybdenum, zinc and copper concentrates
Armenia increased export of all alcoholic beverages produced in  countryArmenia increased export of all alcoholic beverages produced in  country
Armenia significantly increased volume of exports and imports of  fruit and berry cropsArmenia significantly increased volume of exports and imports of  fruit and berry crops
Armenia in H1 2021 increased grape exports by 66.7% Armenia in H1 2021 increased grape exports by 66.7% 
Regular meeting of Armenian-German intergovernmental commission took  place in BerlinRegular meeting of Armenian-German intergovernmental commission took  place in Berlin
Exclusive opportunity for VISA Signature cardholders of Converse BankExclusive opportunity for VISA Signature cardholders of Converse Bank
Armenia significantly reduced sugar importsArmenia significantly reduced sugar imports
Imports of oil products to Armenia grew by 3.7% in the first half of  2021Imports of oil products to Armenia grew by 3.7% in the first half of  2021
Armenia continues to reduce imports and exports of passenger carsArmenia continues to reduce imports and exports of passenger cars
Expert: Institutional solutions are needed in the development of  public-private dialogue (PPD)Expert: Institutional solutions are needed in the development of  public-private dialogue (PPD)
Diamond exports from Armenia have increased several-foldDiamond exports from Armenia have increased several-fold
Online processes will replace paperwork and the need to visit customsOnline processes will replace paperwork and the need to visit customs
About 100 thousand residents of 5 regions of Armenia will receive  round-the-clock water supplyAbout 100 thousand residents of 5 regions of Armenia will receive  round-the-clock water supply
Public-private dialogue is not going well in ArmeniaPublic-private dialogue is not going well in Armenia
YOY inflation in Armenia reaches 8.8% in August 2021YOY inflation in Armenia reaches 8.8% in August 2021
Armenia cuts gold exports, increasing importsArmenia cuts gold exports, increasing imports
Exports grow faster than imports in Armenia`s foreign trade with the  EU countries- 41% versus 11%Exports grow faster than imports in Armenia`s foreign trade with the  EU countries- 41% versus 11%
Armenia`s foreign trade turnover with EAEU countries reaches  double-digit growthArmenia`s foreign trade turnover with EAEU countries reaches  double-digit growth
As of the end of August, 488 thousand tourists visited ArmeniaAs of the end of August, 488 thousand tourists visited Armenia
Armenia slightly reduced the export of aluminum foil in H1, 2021Armenia slightly reduced the export of aluminum foil in H1, 2021
Read more


Exchange rates
17.09.2021
RUB6.68-0.04
USD484.93-1.44
EUR571.39-1.07
GBP668.43-3.64
CAD383.25-1.51
JPY44.10-0.35
CNY75.15-0.46
CHF523.12-3.31