ArmInfo. On June 26-30, 2023, transactions in dollars and rubles increased sharply in the interbank foreign exchange market of Armenia, while transactions in euros ceased again. Moreover, during the reporting period, four dollars and the same amount of rubles were transacted. In particular, the weekly trend of dollar transactions increased 4.1-fold from a 40.6% decline, the same trend was observed in ruble transactions, the dynamics of which also increased 2.4-fold from a fall of 16.7%. As a result, the total weekly volume of transactions in dollars began to dominate even more than the total volume of transactions in rubles: 4-fold (against 2.3-fold per week).
At the same time, in the reporting week (June 26-30, 23 vs. June 19-23, 23) on the intrabank foreign exchange market, the buying of dollars lingered in decline while sales increased, the trend of buying euros changed from growth to decline while sales increased, which was also observed in ruble transactions - the decline in buying was accompanied by an increase in sales.
As a result, on June 26 to June 30, 2023, the AMD remained at the level of 385.8 AMD/$1 against the US dollar, while it began to revalue against both the euro and the ruble -419.5 to 421.5 AMD/1 EUR and 4.6 to 4.3 AMD / 1RUB, respectively. A year earlier, on June 30, the exchange rate of the dram against the dollar was 414 AMD/$1, against the euro - 431 AMD/1 EUR, and against the ruble - 7.5 AMD/1 RUB, which, compared with the current rates, indicates a y-o-y revaluation of the dram against the dollar, euro and ruble.
According to the Central Bank of the Republic of Armenia, on the currency interbank market from June 26 to June 30 this year, transactions in USD totaled $23.5 million at an average exchange rate of AMD 387.28/$1 (against AMD 387.57/$1 in the previous week) and ruble transactions totaling RUB 505 million at an average exchange rate of 4.54 AMD/1RUB (against 4.61 AMD/1RUB the previous week). The currency interbank, having worked daily this week, showed the maximum volume of dollar transactions on Tuesday (June 27) - $11.5 million, and the maximum volume of ruble transactions fell on Monday (June 26) - 150 million rubles. During the reporting week, there were no dollar transactions on Monday (June 26), ruble transactions on Friday (June 30), and no euro transactions at all.
On the intra-bank foreign exchange market from June 26 to June 30 this year, in comparison with the previous week (June 19-23, 23), the decline in the purchase of dollars slowed down from 16.2% to 5.5% when the sales trend changed from 4.2% decline to 7% growth, the trend of buying euros changed from 11.6% growth to 15% decline at the change of the sales trend from a 14% decline to a 9.5% increase, which was also observed for ruble transactions - buying changed from a 27.1% growth to a 14.4% decline at the change of the sales trend from a 17.1% decline to 14.2% growth. As a result, $130.2 million at an average rate of 384.79 AMD /$1; EUR 29.7 million at an average rate of 417.81 AMD /1EUR; and 8.97 billion rubles, at an average rate of 4.48 AMD/1RUB were purchased during the reporting week, and $156.98 million, at an average rate of 387.76 AMD/$1; 51.2 million euros at an average rate of 425.06 AMD/1EUR, and 3.4 billion rubles, at an average rate of 4.56 AMD/1RUB were sold.
According to the Central Bank of the Republic of Armenia, in Q1 2023, the Central Bank intervened in the foreign exchange market for a total of $171.3 million, and these were only buying transactions - $20 million in February and $151.3 million in March, with a slight depreciation from February 389.54 to March 388.78 AMD/$1 (against December 393.50 AMD/$1 in 2022). Over $1.7 billion, 435.9 million euros and over 153.5 billion rubles were purchased on the intrabank foreign exchange market in Q1 2023, and more than $2.2 billion, 848.4 million euros and over 69.1 billion rubles were sold, which formed the purchase rate in March at the level of 386.91 AMD / $ 1, 413.43 AMD / 1 EUR and 5.06 AMD / 1 RUB, and the selling rate is at the level of 389.84 AMD / $ 1, 418.68 AMD / 1 EUR and 5.13 AMD / 1 RUB, against December 2022 392.89 AMD /$1,408.27 AMD/1EUR, 5.96 AMD/1RUB - for buying, and 396.27 AMD/$1, 420.16 AMD/1EUR, 6.07 AMD/1RUB - for sale. In Q1 2023, USD transactions were made in the amount of $216 million, EUR transactions - by 17.7 million euros and RUB transactions - by 2.3 billion rubles, which was accompanied by the revaluation of the dram against the dollar, euro and ruble to March, respectively, 388.69 AMD / $ 1; 412.54 AMD / 1 EUR and 5.10 AMD / 1 RUB, from December 2022 394.12 AMD / $ 1; 413.23 AMD / 1 EUR and 5.8 AMD / 1 RUB. Moreover, in Q1 2023, transactions in EUR in the interbank currency market were carried out not on a daily term but on a monthly term, recording the highest volume in January (10.7 million euros) and the lowest volume in February (2 million euros).
The Central Bank intervened in the foreign exchange market in April and June-December, and these were only purchase transactions for a total of $573.8 million (including $100 million - in June, $81.3 million - in August , $80 million - in October, $114.1 million - in November and $57.9 million - in December), with a depreciation from April's 456.16 to December's 393.50 AMD/$1. Over $7 billion, more than 1.4 billion euros and 295.04 billion rubles were purchased on the intrabank foreign exchange market in 2022, and $8.3 billion, more than 2.3 billion euros and 114.4 billion rubles were sold, which formed the purchase rate in December at the level of 392.89 AMD / $1;, 408.27 AMD / 1 EUR and 5.96 AMD / 1 RUB; and the selling rate is at the level of 396.27 AMD / $ 1, 420; 16 AMD / 1 EUR and 6.07 AMD / 1 RUB; against December 2021 482.42 AMD / $ 1; 544.20 AMD / 1 EUR, 6.53 AMD / 1 RUB- for buying; and 486.46 AMD / $ 1; 552 AMD / 1 EUR; 6.62 AMD / 1 RUB - for sale. In 2022, dollar transactions were made in the amount of $556.6 million, euro transactions - for EUR 28.8 millions; and ruble transactions - for RUB 8.7 billion, which was accompanied by the revaluation of the dram against the dollar to 394.12 AMD / $ 1 in December 2022 against 482.95 AMD /$1 in December 2021, EUR transactions were carried out in March and May- December2022, and RUB transactions - in March-December. RUB transactions on the currency interbank market of Armenia started on March 14, 2022. The foreign stock change has remained idle for the sixth year.
