Certain activity in Armenia`s interbank foreign exchange market  during last week of 2024 

ArmInfo. December 23 to 27, 2024, in Armenia's interbank foreign exchange market, four USD and three RUB transactions were effected, with EUR transactions resumed  after a 2-month interval. USD transactions showed a 31% growth  against a 90% decline, with RUB transactions showing a 56% growth as  against a 4.5-fold growth. The total amount of USD transactions  exceeded that of RUB transactions. 

During the period under review against the previous week (Dec. 16-20,  2024), USD purchases showed a growth, with USD sales showing a  2-digit growth in the intrabank foreign exchange market, with EUR  purchases showing a growth, with EUR sales showing a decline and RUB  purchases and sales showing a growth against a decline.  

December 23 to 27, 2024, saw AMD depreciation against the USD - AMD  396/$1 to AMD 39.8$1, AMD depreciation against the RUB - AMD 3.86UB 1  to AMD 3.87RUB 1, with an AMD depreciation trend toward the EUR - AMD  415/EUR 1 to AMD 416/EUR 1.

On December 27, 2023, the AMD/USD exchange rate was AMD 406.3/$1,  AMD/EUR exchange rate, AMD 445.5/EUR 1 and AMD/RUB exchange rate, AMD  4.40/RUB 1, which is evidence of y/y AMD appreciation against the  USD, EUR and RUB. 

During the period under review, $7.2mln transactions were effected at  an average exchange rate of AMD 396.63/$1 (against AMD 397.95/$1 the  previous week), RUB 700mln transactions, at an average exchange rate  of AMD 3.93/RUB 1 (against AMD 3.84/RUB 1 the previous week). Only  one, EUR 1mln, transaction was effected. The period under review saw  the largest volume of USD transactions on Dec. 27 ($4mln), and the  largest volume of RUB transactions on Dec. 26 (RUB 400mln). 

December 23 to 27, 2024, against the previous period (Dec. 16 to 20,  2024), in Armenia's intrabank foreign exchange market, USD purchases  showed a 12% growth against a 24.5% decline, with USD sales showing a  14.8% growth against a 14.1% growth. EUR purchases showed a 1.5%  growth against a 32% decline, with EUR sales showing a 29% decline  against a 45% growth. RUB purchases showed an 87% growth against a 9%  decline and RUB sales, 45% growth against a 5% decline.

During the period under review, USD purchases totaled $185mln at an  average exchange rate of AMD 394.05/$1, EUR 41.5mln at an average  exchange rate of AMD 408.36/EUR 1, and over RUB 16.5bln at an average  exchange rate of AMD 3.9/RUB 1. USD sales totaled $259.6 mln at an  average exchange rate of AMD 397.82/$1, EUR sales totaled EUR  59.95mln at an average exchange rate of AMD 416.99/EUR 1, and RUB  sales RUB 8.7bln at an average exchange rate of AMD 4.02/RUB 1. 

The largest USD purchases were reported on December 25 ($49.5mln),  with the largest USD sales recorded on December 23 ($62.7mln) The  largest EUR purchases and sales were recorded on December 27 (EUR  13.3mln and 16.7mln). The largest RUB purchases were recorded on  December 26 (RUB 3.8bln) with the largest RUB sales recorded on  December 24 (RUB 23.7bbn). 

In January-October, 2024, the CBA made $705.5mln interventions in  Armenia's foreign exchange market only in April-October, with only  purchase transactions effected ($20mln in April, $136.5mln in May,  $100mln in June and $110mln in July, $132.3mln in August, $119mln in  September, and $97.7mln in October). In the case of purchase  transactions the AMD exchange rate saw depreciation to AMD 388.03/$1  in October 2024 against AMD 386.60/$1 in September 2023, when  purchase translations were last effected, with greater depreciation  against December 2022 (AMD 393.50/$1). 

In January-October, 2024, in the intrabank foreign exchange market,  purchases totaled $5.4bln, over EUR 1.3bln and RUB 683.7bln, and  sales totaled $8.2bln, EUR 3.1bln and RUB 222.1bln, which formed the  following buying rates in October 2024: the AMD 385.78/$1, AMD  419.2/EUR 1 and AMD 4.00/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 388.36/$1, AMD, 425.63/EUR 1, and AMD 4.08/RUB 1  against AMD 406.14/$1, AMD 445.57/EUR 1 and AMD 4.5/RUB 1 in December  2023.

In January-October, 2024, on the interbank foreign exchange market,  $883.4 mln, EUR 13.2mln, RUB 35.7bln transactions and EUR 46.8mln  (with no EUR transactions effected in June 2024) were effected, which  was accompanied by AMD appreciation against the RUB to AMD 4.02/RUB  1, against the USD, AMD 387.94/$1 and against the EUR, AMD 431.78/EUR  1, in October 2024, 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 EU transactions ($195.3mln and EUR 14.4mln) was recorded in  September 2024, with the largest volume RUB transactions recorded  this August (RUB 7.2bln). 

This June, after an 8-year-long interval, the foreign exchange stock  market resumed operation and saw $14.718mln transactions (in  June-October), accompanied by AMD appreciation - AMD 387.75/$1 this  October against AMD 389.85/$1 this June.

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.