Saturday, December 1 2018 14:14

ArmInfo. Between November 26  and 30 inclusive, the Currency Interbank of Armenia reduced the  volume by 32.7%, after rising 2.8-fold in the previous week, amid the  revaluation of the dram.

In parallel with this on Intra-bank foreign  exchange market dollar and euro transactions intensified, against the  background of which interest in RUR purchase fell and it was actively  sold. Exchange currency market is still idle. As a result between  November 26 and 30 the dram to the dollar began to weaken - from  484.5 to 485.5 AMD / $ 1, remaining on the same level against euro  and the ruble - 552AMD / 1 EUR and 7.4 AMD/ 1 RUR, respectively . A  year earlier, on November 30, 2017, the dram rate to the dollar was  484 AMD / $ 1, to the euro - 574.5 AMD / 1EUR, and to the ruble - 8.3  AMD / 1 RUR, which in comparison with the current rates indicates the  y-o-y devaluation of the dram to dollar, and revaluation against the  euro and the ruble.

As the Central Bank's press service told ArmInfo, on November 26-30,  currency exchange interbank transactions totaled $ 19.8 million at a  weighted average rate of 485.21 AMD / $ 1 (against 484.38 AMD / $ 1  week earlier). During the reported week, the currency interbank  market worked daily, ensuring maximum volumes on Tuesday and Thursday  - $ 6.4 and $ 5.1 million, respectively. At the same time, USD  purchase on the intrabank foreign exchange market changed the trend  from a 9.8% decline to a 37% increase with accelerating sales growth  from 10% to 11.5%, the euro purchase slowed down from 48.4% to 45%  while sharply accelerating sales growth from 2.4% to 35%, while for  ruble operations, purchase from 24% growth changed to a 35% decline  amid sales dynamics growing from 32.5% decline to 57.6% growth.  As a  result, $ 109.3 million was bought at an average rate of 484.28 AMD/  $ 1, 19.97 million euros at an average rate of 548.42 AMD / 1EUR, and  1.5 billion rubles at an average rate of 7.24 AMD / 1RUR, and sold $  112.6 million at an average rate of 485.65 AMD/ $ 1, 23.4 million  euros at an average rate of 551.79 AMD / 1EUR, and 761.4 million RUR  at an average rate of 7.32 AMD/ 1RUR.

According to the source, from November 19 to 24, Armenian banks  issued AMD loans for 52.2 billion drams and dollar loans for $ 45.8  million. Compared to the previous period (from 12 to 17 November),  dram and dollar loans remained in decline, slowing down from 7,  1-15.5% to 3.3-2%.  To note, in January-September 2018, the Central  Bank of Armenia in the foreign exchange market intervened by buying  up $ 54 million in January-March and July, and selling $ 10 million  in May. In particular, the Central Bank bought $ 14 million in  January at the rate of 481.10 AMD / $ 1, in February - $ 7 million at  the rate of 480.45 AMD / $ 1, in March - $ 26 million at the rate of  480.45 AMD / $ 1, in July - $ 7 million at the rate of 480.27 AMD / $  1, and in May sold $ 10 million at the rate of 486, 73 AMD/ $ 1.  In  January-September 2018, $ 3.216 billion and 389.1 million euros were  bought on the intrabank foreign exchange market, and $ 3.365 billion  and 634.7 million euros were sold. Transactions in the amount of $  493.3 million were made on the currency interbank market in January   September 2018, which was accompanied by a devaluation of the dram  from 482.61 AMD / $ 1 in January to September 482.89 AMD/ $ 1, and  during this period March, June, July and September turned out to be  revaluation periods . The exchange currency market after continuous  suspension, finally awakened in August 2018, showing an  unprecedentedly low trading volume - $ 10,000 (at a rate of 483.50  AMD/ $ 1).