Armenian interbank foreign exchange  market increased significantly,  while ruble transactions decreased

ArmInfo. December 9 to 13,  2024, in Armenia's interbank foreign exchange market daily USD  transactions and one RUB transaction were effected, with no EUR  transactions effected for a month and a half. USD transactions showed  a growth from 53% to a 10-fold growth, with RUB transactions showing  a 87,3% decline against an 2.6% growth.  As a result, dollar  transactions began to dominate again, the total amount of USD  transactions exceeded the total amount of RUB transactions 58-fold.

In parallel with this, in the intra-bank currency market for the  reporting week (09-13.12.24 compared to 02- 06.12.24) the trend of  buying up dollars turned towards a decline while sales started to  grow, the trend of buying up and selling euros turned from a decline  to a growth, which was also observed in ruble transactions, the trend  of which also headed towards growth.  December 9 to 13, 2024, saw AMD   further appreciation against the USD-AMD from 396/$1 to AMD 395 /$1,  against the EUR - AMD 420.5/EUR1 to AMD 416/EUR 1, with insignificant  AMD appreciation against the RUB - AMD 3.93 to AMD 3.78 /RUB1. On  December 13, 2023 the AMD/USD exchange rate AMD 405.5/$1, AMD 436.5  /EUR1, and AMD 4.49 /RUB1, which is evident of y/y AMD appreciation  against the USD EUR and RUB.

For the period under review, the CBA reports daily USD transactions  from December 9 to 13, and RUB ruble transactions on Friday (December  13) in Armenia's interbank foreign exchange market. As a result,  $55.7 million were effected at an average rate of AMD 395.40/$1  (against AMD 401.09 /$1 the previous week), one RUB 100mln  transactions, at an average exchange rate of AMD 3.82/1RUB (against  AMD 3.80/1RUB the previous week). The period under review saw the  largest volumes of USD transactions on Wednesday (December 11) - $17  million.

 December 9 to 13, 2024, against the period under review (December  2-6, 24), in Armenia's interbank foreign exchange market, USD  purchases showed from a 7.4% decline against a 2-fold growth, with  USD sales showing a 13% decline against a 15.1% growth. EUR purchases  showed a 48-3% growth against a 37.5-5.7% decline. RUB transactions  showed a 23.4-64.2% growth against a 23.5-33.5% decline.  As a  result, USD purchases totaled $218.6 million at an average rate of  AMD 392.54 /$1, EUR purchases totaled EUR 60.1 million at an average  rate of AMD413.45/1EUR, and RUB  purchases totaled 9.7 billion at an  average exchange rate of AMD 3.84 /1RUB. USD sales totaled $198.3  million at an average rate of AMD 396.41/$1, EUR sales totaled EUR 58  million euros at an average exchange rate of AMD 420.48 dr/1EUR, and  RUB sales totaled 6.3 billion  at an average exchange  rate of AMD  3.97 /1RUB.

The largest USD purchases were reported on Friday (December 13 -  $68.2 million), with largest USD sales recorded on Monday (December 9  - $57.6 million). The largest EUR purchases were recorded on Monday  (December 9 - 35.8 million euros), with the largest EUR sales  recorded on Tuesday (December 10 - 20.7 million euros). The largest  RUB purchases was recorded on Tuesday (December 10 - 2.4 billion  rubles) with the largest RUB sales recorded on Monday (December 9 -  1.99 billion rubles).

In January -September 2024, the CBA made $617.8 million interventions  in Armenia's foreign exchange market only in April-September, with  only purchase transactions ($20 million in April,  $136.5 million in  May, $100 million in June, $110 million in July, $132.3 million in  August, and $119 million in September).  The AMD/USD exchange rate  was AMD 388.15/$1 this September against AMD 386.60/$1 last  September, when purchase transactions were last effected in 2023,  with greater depreciation against December 2022 (AMD393.50 /$1).

In January-September, 2024, in the intra-bank foreign exchange  market, purchases totaled $4.8 billion, EUR 1.2 billion and RUB 638.7  billion rubles, and sales totaled $7.6 billion, EUR 2.9 billion and  RUB 204.4 billion, which formed the following buying rates in  September 2024: AMD of 385.93/$1, AMD 426.71 dr/EUR1  and AMD  4.24/RUB 1 against AMD 388.55/$1, AMD 432.96 dr/EUR1  and AMD 4.29  /RUB 1 in December 2023 The selling rates were as follows:  AMD  402.72/$1, AMD 437.90/EUR1, AMD 4.43 /RUB 1  against AMD 406.14r/$1,  AMD 445.57 /EUR 1,  and AMD 4.50/RUB1  in December 2023.

In January-September 2024, in the interbank foreign exchange market,  $743,8 mln, EUR 43,2 mln (with no EUR transactions effected this  June) and RUB 30,3bln transactions were effected, which was  accompanied by AMD appreciation against the RUB to AMD 4.24/RUB 1,  against the USD, AMD 387.95/$1 and against the EUR, AMD 430.87/EUR 1,  this September against AMD 4.47/RUB 1, AMD 405.62/$1 and EUR  444.30/EUR 1 respectively in December 2023. The largest volume of USD  and RUB transactions ($195,3mln and RUB 7.2bln) was recorded this  September, with the largest volume EUR transactions recorded this  January (EUR 14.4mln). 

RUB transactions on the interbank foreign exchange market of Armenia  started on March 14, 2022, with RUB 8.7bln 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 - AMD 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.   This June, after an 8-year-long interval, the foreign exchange stock  market resumed operation and saw $14,76mln transactions (in  June-October), accompanied by a slight AMD appreciation - AMD  387.75/$1 this October against AMD 389.85/$1 this June.