ArmInfo. Only dollar and euro transactions were carried out at the foreign currency interbank of Armenia in the first short week of January 2024 (January 3-5), hile there were no euro transactions in the same period a year ago, instead there were ruble transactions along with dollar ones, but both then and now they were recorded in small volumes with downward trend in dollar transactions.
Thus, the weekly trend of dollar transactions changed from 2.8% growth (December 25-29, 2023) to 84.3% decline (for January 3-5, 2024), in parallel with which there were completely no ruble transactions (vs. 6.7-fold increase at the end of December). As a result, due to the smaller volumes of euro transactions, dollar transactions began to prevail over them by 4 times.
In parallel, on the intrabank foreign exchange market during the reporting week (Jan 3-05, 2024 compared to Dec 25- 29, 2023), the trend of purchase and sale of dollars and euros and rubles turned from growth to decline, with the strongest reduction recorded in ruble transactions.
As a result, from January 3 to January 5, 2024, the dram began to revalue both against the US dollar - from 406.3 to 405.5 AMD/$1, and against the euro - from 447.5 to 443.5 AMD/1EUR, At the same time, it "froze" against the ruble at the level of 4.4 AMD/1 RUB. A year earlier, on January 5, the dram exchange rate against the dollar was 399 AMD/$1, against the euro - 419 AMD/EUR, and against the ruble - 5.4 AMD/1 RUB, which, in comparison with current rates, indicates the y-o-y devaluation of the dram against the dollar and euro, and the revaluation against the ruble.
According to the Central Bank of the Republic of Armenia, on the interbank foreign exchange market from January 3 to January 5 this year, dollar transactions in a total volume of $2.9 million at an average rate of 405.73 AMD/$1 (compared to 406.45 AMD/$1 in the previous week), as well as euro transactions in a total volume of 650 thousand euros at an average rate of 444.19 AMD/1EUR were carried out. During the reporting week, which was short one due to the New Year holidays, the foreign exchange interbank worked for only three days, during which there were 2 dollar transactions and 2 euro transactions, in particular on Wednesday, when euro transactions were carried out, there were no dollar transactions, and on Thursday, when dollar transactions were carried out there were no euro ones. As a result, the maximum volume of both dollar and euro transactions were carried out on Friday (January 5) - $2.4 million and 500 thousand euros.
On the intrabank foreign exchange market from January 3 to January 5 this year, in comparison with the previous week (Dec 25-29, 2023), the dynamics of purchase and sale of dollars changed from a 30-5% increase towards a 51.1-34.2% decline, which was observed as for transactions with the euro - the buying and selling trend for which also changed from an increase of 45-5.4% to a decrease of 67.4-8.1%, and for ruble transactions with a reversal of the buying and selling trend from 12.3-164.3% growth by 66.6-81.7% decline.
As a result, during the reporting week, namely over three working days, over $73.7 million, at an average rate of 403.72 AMD/$1; 15.7 million euros, at an average rate of 440.78 AMD/1EUR, and 3.6 billion rubles, at an average rate of 4.40 AMD/1RUB were purchased, and $123.1 million, at an average rate of 406.80 AMD/$1; 42.2 million euros at an average rate of 448.86 AMD/1EUR, and over 1.1 billion rubles, at the average rate 4.49 AMD/1RUB were sold. According to the Central Bank of the Republic of Armenia, in Jan-Sept 2023, the Central Bank intervened for a total of $1.247 billion (except for January) in the foreign exchange market, and these were only buying transactions - $40 million in Feb, $151.3 million in March, $181.6 million in April, $209.5 million in May, $198.8 million in June, $230 million in July, $165.3 million in Aug, and $20 million in Sept and $50 million in Oct, with the appreciation of the dram from February 389.24 to September 386.60 AMD/$1 (versus December 393.50 AMD/$1 in 2022).
On the foreign exchange interbank market in January-Oct 2023, dollar transactions totaled $640.7 million, euro transactions totaled 23.7 million euros and ruble transactions totaled 12.9 billion rubles, which was accompanied by the revaluation of the dram against the dollar and the ruble to the October exchange rate: 402.53AMD/$1 and 4.21AMD/1 RUB respectively, but with devaluation against the euro - 425.35 AMD/1 EUR, from December 2022 394.12 AMD/$1, 413.23 AMD/1 EUR and 5.8 AMD/1 RUB. Moreover, transactions in European currency in the interbank currency market in Jan-Oct 2023 were carried out not on a daily term but on a monthly term (except for July), recording the maximum volume in Jan (10.7 million euros) and the minimum volume in April (300 thousand 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 in 2023.
