Friday, January 5 2024 18:09

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.