ArmInfo. USD and EUR transactions decreased, while RUB transactions showed a growth, in Armenian interbank foreign exchange market from July 22 to 26. Moreover, three USD, one EUR and four RUB transactions were effected during the period under review.
According to the results of the week, USD transactions showed 78% growth against a 50% decline, EUR transactions showed 25%, and RUB transactions went from a 10.3% decline to a 38.5% growth. As a result, the total amount of USD transactions exceeded the total amount of EUR transactions by 2.5 fold(against 3.7 times the week before), and the total amount of RUB transactions exceeded both USD (2.6 times) and EUR (6.3 times).
During the period under review against the previous period market (22-26.07.24 compared to 15-19.07.24), USD purchases and sales showed a decline, EUR purchases showed a decline even more while sales began to grow, and RUB purchases and sales showed a growth against a significant decline.
July 22 to 26, 2024 the USD/AMD exchange rate remained 387.8 drams / $ 1 while it began to weaken against the RUB from 4.4 to 4.5 AMD / 1 RUB, with further AMD appreciation against the EUR 421 AMD / 1 EUR. A year earlier, on July 26, the AMD exchange rate to the USD was 386.3 USD / $ 1, to the EUR - 427.5 drams / 1 euro, and to the RUB - 4.3 AMD / 1 RUB, which, compared to the current rates, is evidence of y/y AMD depreciation against the USD, with AMD appreciation against the EUR and RUB.
For the period under review, the CBA reports two USD transactions (Tuesday and Wednesday - July 23 and 24), four RUB (except Thursday - July 25), and one EUR transaction (Friday - July 26). The interbank currency market was completely empty on Thursday (July 25). As a result, $4 mln transactions were effective at an exchange rate of AMD 388.55 (against 388.63 AMDr/$1 in the previous week), RUB 900 mln transactions at an average rate of AMD 4.45/RUB 1. The volume of the euro transaction amounted to 1.5 mln at an average rate of 421 AMD/1EUR (against 423.65 AMD/1EUR in the previous week).
The period under review saw the largest volume of USD transactions, on Wednesday (July 24) - $3mln, and the largest RUB transaction occurred on Tuesday (July 23)-350 mln RUB.
July 22 to July, 2024 against the period under review (July 15-19, 24), in Armenia's interbank foreign exchange market, USD purchases showed decline 13.5-3% to 0.2-3%, EUR sales showed decline 12.7% to 23.7% with the sales trend moving from a 39.1% decline to a 35.6% increase, and RUB purchases showed growth, moving from a 12% decline to a 5.4% increase, accompanied by an acceleration in the decline in sales from 12.1% to 27.6%.
During the period under review, purchases totaled $120.03 mln at an average exchange rate of AMD 386.53/$1, EUR 25.03mln at an average exchange rate of AMD 417.75/EUR 1, and RUB 19.2bln at an average exchange rate of AMD 4.43/RUB 1. USD sales exceeded $214.4mln at an average exchange rate of AMD 389.34/$1, EUR sales totaled 83mln at an average exchange rate of AMD 419.06/EUR 1, and RUB sales RUB 17.95bln at an average exchange rate of AMD 4.5/RUB 1. The largest RUB purchases and sales were recorded on June 28 (14.5bln and 10.5bln respectively), with the largest USD purchases and sales recorded on the same day ($40.1mln and $50.5mln respectively).
The largest volumes of USD purchases and sales occurred on Friday (July 26 - $29.3 million and $45.9 million), for RUV transactions the largest volume of purchases was recorded on Monday (July 22 - 4.6 billion RUB) with the maximum sales on Tuesday (July 23 - over 1 billion RUB), for EUR transactions the maximum volume of purchases occurred on Monday (July 22 - 6.7 million EUR) with the maximum sales on Wednesday (July 24 - 18.5 million EUR).
In January-April, 2024, the CBA made $20mln interventions in Armenia's foreign exchange market (in April alone), with only purchase transactions effected. The AMD/USD exchange rate was AMD 388.63/$1 this April against AMD 386.60/$1 last September, when purchase translations were last effected, with greater depreciation against December 2022 (AMD 393.50/$1).
In January-April, 2024, in the interbank foreign exchange market, purchases totaled $1.99 bln, EUR 436.2 mln and RUB 240.7bln, and sales totaled $3.1bln, exceeded EUR 1.2bln and RUB 71.9blm, which formed the following buying rates in April 2024: the AMD 389.37/$1, AMD 415.10/EUR 1 and AMD 4.19/RUB 1 against AMD 402.72/$1, and AMD 437.90/EUR 1 and RUB 4.43/1 RUB in December 2023. The selling rates were as follow: AMD 392.47/$1, AMD, 423.62/EUR 1, and AMD 4.23/RUB 1 against AMD 406.14/$1, AMD 445.57/EUR 1 and AMD 4.5/RUB 1 in December 2023.
In January-April 2024, on the interbank foreign exchange market, $286.1mln, EUR 20.1mln and RUB 7.1bln transactions were effected, which was accompanied by AMD appreciation against the RUB to AMD 4.2/RUB 1 and against the USD and EUR, AMD 390.65/$1 and 415.56/EUR 1 respectively, as against AMD 4.47/RUB 1, AMD 405.62/$1 and EUR 444.30/EUR 1 respectively.
To recall RUB transactions on the foreign exchange interbank of Armenia started on March 14, 2022, with RUB 8.8bln transactions effected until the end of that year, with RUB 17.5bln transactions effected in 2023. This was accompanied by AMD depreciation against the RUB in March-December 2022 - AMF 4.86 to AMD 5.8/RUB 1, with AMD appreciation against the RUB to AMD 4.47/RUB 1 by the end of 2023. The foreign exchange stock market has remained idle for the eight year.
