Armenian Interbank Currency Exchange sharply reduced volume by 63%

ArmInfo. The Armenian  Interbank Currency Exchange sharply reduced volume by 63% from  September 3 to 7, after 74.6% growth in the previous week. In  parallel with this, the in-house currency market was passive in terms  of dollar transactions, as a result of which euro transactions  intensified, and ruble transactions were followed by an uptrend with  a continuing decline in the buyback. Exchange market since the  beginning of the year to this day is empty. As a result, the dram  against the dollar began to weaken from 3 September to 7 September -  from 483 to 484.3 dr / $ 1, changing the mood towards the euro for  strengthening - from 565 to 564 dr / 1evro, and also entering the  ruble - from 7.1 to 7 dr / rub. A year earlier, on September 7, 2017,  the exchange rate of the dram to the dollar was 478 dr / $ 1, to the  euro - 570 dr / 1evro, and to the ruble - 8.3 dr / ruble, which in  comparison with the current rates indicates the annual devaluation of  the dram to the dollar, at revaluation to the euro and the ruble.

As the press service of the Central Bank of Armenia told ArmInfo, on  July 3-7, operations in the amount of $ 3.8 million at the weighted  average rate of 484.25 dr / $ 1 (against 483.09 dr / $ 1 a week  earlier) were executed at the currency interbank market. The  interbank currency bank, working during the reporting week, showed  the maximum volume on Monday - $ 2 million. In parallel, on the  intra-bank foreign exchange market, the buying of the dollar  accelerated the decline from 2.4% to 17%, and the sale changed the  trend from 12, 5% growth on the 2.9% decline, buying-selling of the  euro has deployed the vector from a 5.7% -10.7% decline to a 35.4-16%  rise, and for ruble transactions, the buying has accelerated the  decline from 9% to 17% with a change in sales dynamics from a 3.8%  decline to a 7% increase. As a result, $ 66.5 million was purchased  at the average exchange rate of 483.24 dr / $ 1, 13.4 million euro at  the average rate of 560.15 dr / 1EUR, and 1.3 billion rubles. at an  average rate of 7.06 dr / 1RUB, and $ 91.8 million was sold at an  average rate of 484.61 dr / $ 1, 17.4 million euro at an average rate  of 563.54 dr / 1EUR, and 749 million rubles. at the average rate of  7.14 dr / 1RUB.

According to the source, from August 27 to September 1, Armenian  banks issued AMD 79.6 billion in dram credits and $ 39.5 million in  dollar loans. In comparison with the previous period (from August 20  to August 25), AMD and dollar loans changed the trend from 22-28% th  decline by 28-41% growth.

It should be noted that in the first half of the year in 2018 the  Central Bank of the Republic of Armenia in the currency market made  purchase interventions in January-March, totaling $ 47 million, and  in May, $ 10 million. In particular, the Central Bank bought $ 14  million in January 481.10 dollars / $ 1, in February - $ 7 million at  the rate of 480.45 dr / $ 1, in March - $ 26 million at the rate of  480.45 dr / $ 1, and in May sold $ 10 million at the rate of 486.73  dr / $ 1. In the intra-bank foreign exchange market for the first  half of 2018, $ 2.156 billion and 237.9 million euros were bought,  and $ 2.183 billion and 413.8 million euros were sold. At the  currency interbank market, transactions in the first half of 2018  totaled $ 335.6 million, which was accompanied by a drama  strengthening from January 482.61 dr / $ 1 to 480.49 dr / $ 1 in  March, after which a devaluation was observed in April-May to 484.29  dr / $ 1, which was replaced in June for revaluation to 482.84 dr / $  1. Exchange market since early 2018 to this day is empty.