Saturday, February 24 2018 10:27
Svetlana Hovsepyan

Armenian dram appreciates to USD and EUR

Armenian dram appreciates to USD  and EUR

ArmInfo. The interbank  currency market of Armenia increased its volumes  two times from  February 19 to February 23, compared to the previous week, after the  same growth a week earlier. Moreover, during the week only on Monday  the currency bank was empty, after which the deals were made daily,  with maximum volume was scored  on Thursday. At the same time,   intra-bank foreign exchange market players showed interest in buying  up the euro and the ruble, while reducing the volume of dollar  transactions. Exchange market since the beginning of the year to this   day continues to empty.  As a result, the dram continued to  strengthen appreciate to  the dollar - from 481.5 to 481 AMD / $ 1,  also tuned to the euro - from 604 to 592 AMD/ 1EUR  and to the ruble  - from 8.6 to 8.5 AMD/ RR A year earlier, on February 23, 2017, the  exchange rate of the dram to the dollar was 486.3 AMD/ $ 1, to the  euro - 514 AMD / 1EUR, and to the ruble - 8.4 AMD / RR, which, in  comparison with the current rates, indicates the annual devaluation  of the dram to euro and ruble at revaluation to the dollar.

As the press service of the Central Bank of Armenia shared with   ArmInfo, on February 19 through 23 inclusive, transactions in the  volume of $ 22.9 million were made at the average exchange rate of  480.46 dr / $ 1 against the foreign exchange interbank market  (against 481.80 AMD / $ 1 a week earlier). Moreover, the currency  interbank market was empty on Monday, but then operations were daily  performed with "flashing" large on Tuesday and Thursday - $ 5.2  million and $ 13.4 million, respectively. At the same time, in the  intra- bank foreign exchange market, the decline in dollar buying  accelerated from 8.4% to 16.8%, while sales growth slowed from 10.7%  to 3.7%, against which the dynamics of euro buying changed from 20.7%  decline in the 14.3% growth with a deterioration in the trend of  sales - from 5.4% growth to a 12.3% decline. Ruble- denominated  transactions on the intra-bank foreign exchange market maintained a  multidirectional trend:  the growth of purchases slowed from 16.8% to  14.8%, while the sales decline accelerated from 1.6% to 5%.  As a  result, $ 80.3 million was purchased at the average rate of 480 AMD /  $ 1, 8.03 million euro at the average rate of 592.55 AMD/ 1EUR, and  978.5 million rubles. At an average rate of 8.45 AMD / 1RR, and sold  $ 79.5 million at an average rate of 481.26 AMD / $ 1, 17.15 million  euro at an average rate of 594.85 AMD/ 1EUR, and 533.8 million  rubles. at the average rate of 8.55 AMD / 1RR.

According to the source, during the previous week (from 12 to 17  February), Armenian banks issued AMD 54.5 billion drams and dollar  loans for $ 35.5 million. Compared to the previous period (from  February 5 to 10), the dynamics of loans issued has sharply   improved: drams were deployed the vector with a 24.7% decline in the  22% growth, and the dollar - with a 66.7% decline in the 22.8%  growth.

Note that for the year 2017 on the stock exchange currency platform,  a total of $ 3.3 million was performed (January-March, May). The  Central Bank for the whole of 2017 bought a total of $ 122.6 million  (June- September, December) and sold $ 22 million (January,  November). Prior to this, in 2016, the exchange currency market also  showed weak signs of life - one operation in March-May. The Central  Bank bought $ 152 million (April, June, August-October) for the  foreign exchange market in 2016, and sold $ 122.7 million  (January-February, November-December).

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