USD transactions down, Rub ones up in Armenia`s interbank foreign  exchange market, Feb 17-21

ArmInfo. February 17-21, 2025, in Armenia's interbank foreign exchange market daily USD and two RUB transactions were effected, with no EUR transactions effected.  However, despite the rare appearance of ruble transactions during the week, their total volume was only slightly lower than dollar transactions. USD transactions showed a  decline from 46% to 26%,  while the RUB transactions showed a growth from 64% to 67%. The total  amount of USD transactions over RUB transactions narrowed even more  from 3 to 1.2 times.

During the period under review against the previous period, in  Armenia's intrabank foreign exchange market USD  purchase and sales  decreased, while EUR and RUB sales and purchase increased. As a  result, from 17 to 21 February this year, the AMD began to strengthen  against the USD - from AMD 396.8 to AMD 394 drams/$1, with an AMD  depreciation against the EUR- AMD 416/EUR 1 to AMD 413.5 /EUR 1, and  further AMD depreciation against the RUB - AMD 4.30/RUB1 to AMD 4.38  d/RUB1. 

On February 21, 2024, the AMD/USD  exchange rate  was AMD 404.8 /$1,  AMD/EUR exchange rate - AMD 437 /EUR1, and AMD/RUB exchange rate -  AMD 4.36/RUB ruble, which is evidence of y/y AMD appreciation against  the USD, EUR and RUB.  For the period under review, the CBA reports  US $10 mln transactions at an average exchange rate of AMD 395.75/$1  (against AMD 397.03/$1 the previous week), RUB 750mln transactions,  at an average exchange rate of AMD 4.34/RUB 1 (against AMD 4.27/RUB 1  the previous week).  During the period under review, in the interbank  foreign exchange market showed activity, with only RUB transactions  effected on Tuesday and Thursday. The largest volume of USD  transactions was on Wednesday, (February 19),  and the largest volume  of RUB transactions was on Thursday (February 20)-650 mln.

On the intra-bank currency market from February 17 to 21 of this  year, compared to the previous week (10- 14.02.25), there was a  slowdown in dollar purchases from 14% to 2.1%, along with a reversal  in the sales trend from 7% growth to a 13.4% decline. For EUR  transactions, the purchase trend went from a 39% decline to a 5.2%  growth with a slowdown in sales growth from 15.2% to 11.1%; and for  RUB transactions, the slowdown in purchase growth from 21% to 7% was  accompanied by a sales trend going from a 55% decline to a 22%  growth. As a result, during the reporting week, $105.1 million was  purchased at an average rate of AMD 394.15$1, 30.6 million euros at  an average rate of AMD 410 /1EUR, and over 15.8 billion rubles at an  average rate of AMD 4.32 drams/1RUB. Additionally,d $155.3 million  was sold at an average rate of AMD 397/$1, 90.1 million euros at an  average rate of AMD 417.19/1EUR, and over 3.3 billion rubles at an  average rate of AMD 4.42/1RUB. The largest volume of dollar purchases  occurred on Friday (February 21 - $23.3 million) with the maximum  sales on Thursday (February 20 - $37.1 million), and the largest  volumes of EUR and RUB purchases and sales were recorded on Monday  (February 17 - 9.7-22.8 million euros and 4.2 billion-875.2 million  rubles, respectively).

In January-November, 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 $87.7mln 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 an appreciation  against December 2022 (AMD 393.50/$1). 

In January-November, 2024, in the intrabank foreign exchange market,  purchases totaled $5.9bln, EUR 1.5bln and RUB 725.1bln, and sales  totaled $9.03bln, EUR 3.3bln and RUB 240.7ln, which formed the  following buying rates in Nov. 2024: the AMD 387.53/$1, AMD  409.52/EUR 1 and AMD 3.82/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 390.34/$1, AMD, 416.81/EUR 1, and AMD 3.85/RUB 1  against AMD 406.14/$1, AMD 445.57/EUR 1 and AMD 4.5/RUB 1 in December  2023.

In  2024, in the interbank foreign exchange market, $993.4mln, RUB  39.2mln and EUR 4t.8mln transactions were effected (with no EUR  transactions effected in June and Nov. 2024). This was was  accompanied by AMD appreciation against the RUB to AMD 3.88/RUB 1,  against the USD, AMD 388.91/$1 in November, 2024, against AMD  4.47/RUB 1, AMD 405.62/$1in 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, 2024 (RUB 7.2bln).

In 2024, in the interbank foreign exchange market, $918.4mln, RUB  37.2mln and EUR 46.8mln transactions were effected (with no EUR  transactions effected in June and Nov. 2024), which was accompanied  by AMD appreciation against the RUB to AMD 3.88/RUB 1, against the  USD, AMD 388.91/$1 in November, 2024, against AMD 4.47/RUB 1, AMD  405.62/$1in 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,  2024 (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 last  October against AMD 389.85/$1 last June. No transactions were  effected on the foreign exchange stock market last November.  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.