Saturday, March 3 2018 10:26
Svetlana Hovsepyan

AMD began to weaken towards dollar, slowing the pace of strengthening to the euro

AMD began to weaken towards dollar, slowing the pace of strengthening to the euro

ArmInfo. The currency interbank of Armenia from February 26 to March 2 in comparison with the previous week reduced volumes by 42.8%, after growing 2 times a week earlier. Moreover, during the week transactions on the foreign currency interbank were made daily, but the maximum volume was scored by Monday, after which the turnover began to decline.

At the same time, players on the intra-bank foreign exchange market stepped up buying up the euro and selling the dollar, losing interest in ruble operations. Exchange market since the beginning of the year to this the day is empty. As a result, the dram against the dollar began to weaken - from 481 to 481.5 AMD / $ 1, slowing the rate of strengthening to the euro - from 592 to 591 AMD / 1evro, while frozen to the ruble at 8.5 AMD / ruble. A year earlier, on March 2, 2017, the exchange rate of the dram to the dollar was 486.8 AMD / $ 1, to the euro - 513 AMD / 1evro, and to the ruble - 8.4 AMD / ruble, which, in comparison with the current rates, indicates the annual devaluation of the dram to euro and ruble at revaluation to the dollar.

According to Armenian Central Bank press service, on February 26 through March 2, inclusive, transactions were made in the volume of $ 13.1 million at the weighted average rate of 480.95 AMD / $ 1 (against 480.46 AMD / $ 1 a week earlier). Moreover, the currency interbank worked all week, demonstrating a maximum $ 5 million on Monday. At the same time, the decline in dollar purchases slowed in the intra-bank foreign exchange market from 16.8% to 1.6% with the acceleration of sales growth from 3.7% to 7.9%, against which the growth of euro buying accelerated from 14.3% to 25% % when the decline in sales slowed down from 12.3% to 2.3%. Ruble purchase transactions have changed the trend from the ascending 14.8% to the downward 5.6% with the acceleration of the sales decline from 5% to 16.7%. As a result, $ 78.9 million was purchased at the average rate of 480.19 AMD / $ 1, 10.03 million euro at the average rate of 587.85 AMD / 1EUR, and 923.5 million rubles at an average rate of 8.51 AMD / 1RUR, and sold $ 85.8 million at an average rate of 481.50 AMD / $ 1, 16.7 million euro at an average rate of 591.30 AMD / 1EUR, and 444.5 million rubles at the average rate of 8.60 AMD / 1RUR.

According to the source, over the previous week (from February 19 to 24), Armenian banks issued AMD 54.3 billion in dram loans and $ 39.1 million in dollar loans. In comparison with the previous period (from February 12 to 17), AMD banks rolled out the vector from 22% growth to 0, A 4% decline, and the dollar slowed growth from 22.8% to 10.1%.

For 2017 on the exchange currency area, transactions totaling $ 3.3 million (January-March, May) were carried out. 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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