$ 31.6 million transactions made at currency interbank of Armenia on  January 8-17, 2020

ArmInfo.  In the currency interbank of Armenia for the first 8 working days of 2020 (for January 8-10 and 13-17), a total of $ 31.6 million transactions were  made, which exceeds the volumes of the same period a year ago ($  21.079 million for 8-11 and 14- January 18, 2019).

Compared to the final week of December 2019, the volume of the  interbank currency increased 3.2 fold against the background of weak  volatility of the dram against the dollar, while a year earlier  during the same period the volume of the foreign exchange interbank  decreased due to the slow devaluation of the dram. In parallel with  this, in the reporting period (January 13-17, 2020), a decrease in  dollar, euro and ruble transactions was observed in comparison with  the last December working week, and in comparison with the same  period of 2019 (January 14-18), the activity of buying and selling  these currencies is evident.  The exchange currency platform has been  empty for the third year already.

As a result, the dram against the dollar from January 8 to 17 began  to weaken - from 479.3 to 479.8 dr / $ 1, having strengthened against  the euro - from 536 to 534 dr / 1 euro, and the stagnation against  the ruble at the level of 7.8 dr / 1 ruble, and in comparison with  the final week of 2019, there was a scanty devaluation of the dram in  relation to these currencies. A year earlier, on January 17, 2019,  the dram / dollar exchange rate was 485.5 dr / $ 1, the euro - 551 dr  / 1 euro, and the ruble - 7.3 dr / 1 ruble, which in comparison with  current rates indicates the y-o-y revaluation of dram to dollar and  euro at devaluation to ruble.

According to the press service of the Central Bank of Armenia,  ArmInfo reported that over the current week (January 13-17, 2020),  transactions in the amount of $ 15.9 million were carried out at the  weighted average rate of 479.73 dr / $ 1 (against 479.72 dr / $ 1 at  the final week of 2019 which is almost similar to the volume of $  15.7 million recorded for January 8-10 of this year. The currency  interbank, having worked daily from January 13 to 17, was  distinguished by the maximum volumes at the beginning and middle of  the week - on Monday and Wednesday - respectively $ 4.4 million and $  4.5 million. In parallel with this, on the interbank foreign exchange  market for January 13-17 in 2020, $ 104.4 million was purchased at an  average rate of 478.81 dr / $ 1, 17.1 million EUR at an average rate  of 531.30 dr / 1EUR, and 1.9 billion rubles at an average rate of  7.77 dr / 1RUB, and sold $ 114.1 million at an average rate of 480.14  dr / $ 1, 17.02 million EUR at an average rate of 535.53 dr / 1EUR,  and 785.9 million rubles at the average rate of 7.86 dr / 1RUB.

According to the source, from January 6 to 12 this year Armenian  banks issued dram loans for 58.3 billion drams and dollar loans for $  13.6 million. Compared to the same period a year ago (January 7-13,  2019), the volume of issued loans increased by 7.2%, while the volume  of loans issued in dollars on the contrary, decreased by 57%.

It should be noted that over the 9 months of 2019, the Central Bank  of the Republic of Armenia made a total of $ 433 mln of buying  interventions in the foreign exchange market, which lowered the dram  against the dollar from March 485.93 dr / $ 1 to September 476.37 dr  / $ 1. Moreover, the maximum amount of Central Bank interventions for  the purchase of the dollar fell in September - $ 123.250 million. In  the interbank foreign exchange market for 9 months of 2019, $ 3.524  billion and 705.11 million EUR were bought, and $ 3.768 billion and  809.8 million EURwere sold. At the foreign exchange interbank for 9  months of 2019, transactions in the amount of $ 804.36 million were  made, which was accompanied by a revaluation of the dram from January  486.24 dr / $ 1 to September 479.63 dr / $ 1. The exchange currency  platform continues to be empty.