ArmInfo. The foreign currency purchased by the Central Bank of Armenia in 2019 reached $ 398 million (as of September 15, this figure was $ 351 million). The Prime Minister of Armenia Nikol Pashinyan announced this on his Facebook page.
"This is very good news, which indicates a high level of activity in the economy," the prime minister emphasized.
Earlier, ArmInfo, citing the Central Bank's monthly report, reported that in the first half of 2019, the Central Bank of Armenia in the foreign exchange market carried out interventions only to purchase foreign currency in total falsities in the amount of $ 185.250 million, which is 4 times higher than the same period last year. The largest volume of interventions by the Central Bank in the period under review was in June - $ 96.6 million with a monthly increase of 3.6 times. According to the Central Bank, previous interventions occurred in March - $ 5 million, April - $ 56.650 million and May - $ 27 million. For the first half of this year, during the Central Bank's interventions, the dram against the dollar fell from March 485.93 dr / $ 1 to June 478.29 dr / $ 1. Moreover, in June the pace of dram revaluation against the dollar slowed down to 1.6 points, against 3.0 points in previous months (March-May every month).
As ArmInfo analysts note, in a floating exchange rate regime, interventions can serve both to smooth out exchange rate fluctuations, maintain sufficient liquidity in the foreign exchange market to avoid increased exchange rate volatility, and to gradually accumulate international reserves as a security buffer. The change in the gross international reserves of Armenia in the first half of 2019 indicates that by July 1 the Central Bank of Armenia increased them by 11.5% per annum to $ 2.216 billion, due to an almost similar increase in foreign assets dominating in their structure in hard currency (by 11, 2%). Moreover, in the first half of this year VMR decline was observed only in January (by 11.7%), after which growth was recorded in the following months - from February to June by 11.1%.
According to the Central Bank of the Republic of Armenia, for the first half of 2019, $ 2.265 billion and 420.64 million euros were bought on the intra-bank foreign exchange market, and $ 2.408 billion and 520.7 million euros were sold. At the foreign exchange interbank for the first half of 2019, transactions in the amount of $ 421.56 million were carried out, which was accompanied by a revaluation of the dram from January 486.24 dr / $ 1 to June 478.38 dr / $ 1. Exchange currency platform in the first half of this year continued to be empty.