Saturday, December 23 2023 11:13

ArmInfo. From December 18 to 22, the increase in dollar transactions in the RA foreign exchange interbank was accompanied by a decrease in ruble transactions, parallel to which, after a two-week absence, euro transactions resumed. Thus, the weekly trend in dollar transactions turned from a 36% decline towards 68.2% growth, while the dynamics of ruble transactions turned in the opposite direction - from a 5.8-fold increase towards 83.2% recession. As a result, dollar transactions began to dominate again, prevailing 9.3-fold over ruble transactions and 16.5-fold over euro transactions.

In parallel, during the reporting week (December 18-22, 2023 compared to December 11-15,2023), the buying and selling of dollars in the intrabank foreign currency market was maintained at a growth rate, parallel to which, the buying and selling of euros and rubles recorded an increase from the decline.

As a result, from December 18-22, 2023, the dram began to revalue both against the US dollar - from 407.5 to 405.8 AMD/$1, and against the ruble - from 4.5 to 4.4 AMD/1RUB, while, it "froze" against the euro at the level of 445 AMD/1EUR. A year earlier, on December 22, the dram exchange rate to the dollar was 398 AMD/$1, to the euro - 420 AMD/1 EUR, and to the ruble - 5.5 AMD/1RUB, which, in comparison with current rates, indicates the y-o-y devaluation of the dram against the dollar and euro with revaluation against the ruble.

According to the Central Bank of the Republic of Armenia, on the foreign exchange interbank market from December 18-22 this year, dollar transactions in a total volume of $18 million at an average rate of 406.92 AMD/$1 (versus 405.48 AMD/$1 in the previous week), ruble transactions in a total volume of 175 million rubles at an average rate of 4.52 AMD/1RUB (versus 4.49 AMD/1RUB in the previous week) were carried out, and a single euro transaction in the amount of 1 million euros at an average rate of 444.30 AMD/1EUR was carried out on Thursday (December 21). During the reporting week, the foreign exchange interbank, operating daily, recorded the maximum volumes of dollar transactions on Friday and Monday (December 22 and 18) - $6 million and $5 million, and the maximum volume of the ruble transactions carried out twice,recorded on Tuesday (December 19) - 100 million rubles. It is worth noting during the reporting week, transactions in dollars were carried out every day, transactions in rubles were stopped on Monday and Tuesday, and transactions in euros were carried out only on Thursday.

On the intrabank foreign exchange market from December 18-22 this year, in comparison with the previous week (December 11-15, 2023), the upward trend in the purchase and sale of dollars continued, but with an acceleration in the rate of purchase from 0.7% to 30% and a slowdown in the rate of sale from 19.7% to 4.8%, the buying and selling trend of euro reached 45-5.4% increase from 1.7-11.5% decline, which was also observed in the dynamics of ruble transactions, the trend of buying and selling of which increased to 12.3-164.3% from a decline of 11.2-69.6%.

As a result, during the reporting week, over $150.5 million at an average rate of 403.83 AMD/$1, more than 48 million euros at an average rate of 440.08 AMD/1EUR, and 10.7 billion rubles, at an average rate of 4.46 AMD/1RUB were purchased, and $187.1 million at an average rate of 407.27 AMD/$1; 45.9 million euros at an average rate of 448.03 AMD/1EUR, and over 6.1 billion rubles at the average rate 4.54 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). 

In the intrabank foreign exchange market in January-Oct 2023, over $5.9 billion, more than 1.4 billion euros and over 439.3 billion rubles were purchased, and $6.9 billion, over 2.5 billion euros and 178.6 billion rubles were sold, which formed the purchase rate in Oct at 401.80 AMD/$1; 420.15 AMD/1 EUR and 4.13 AMD/1 RUB, and the selling rate is 407.57 AMD/$1; 432.92 AMD/1EUR and 4,245 AMD/1RUB, against December 2022:  392.89 AMD/$1; 408.27 AMD/1 EUR; 5.96 AMD/1 RUB - for purchase, and 396.27 AMD/$1; 420.16 AMD/1EUR, 6.07 AMD/1RUB- for sale. 

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.