Saturday, December 20 2014

In the inter-bank foreign exchange
market of Armenia, $1.7mn out of $4mn offer of the Central Bank was in demand
today on 20 December. The Central Bank of Armenia (CB) told ArmInfo, the
average (indicative) rate totaled 446.76 AMD/1 USD, with the cutoff rate being
445AMD/1USD.

 

On December 18-19, the $4 million daily interventions
were not demanded by the banks. Nevertheless, the banks carried out forex deals
with each other on 18-19 December ($4 million and $5.6 million, respectively). This
reduced the interbank rate from 480.12 to 458.01 AMD/1USD.  The CB announced on 8 December that it
launches daily interventions to restore the balance in the exchange market and
soften currency fluctuations. The interventions will last till the end of 2014.
On Dec 8-20, the CB sold $44.7mn: $6mn a day Dec 8-12 and $4mn a day Dec 15-17m
and $1.7mn on Dec 20. The average (indicative) exchange rate for the given
period rose fro 456.63AMD/1USD to 570.58 AMD/1USD and then fell to 446.76
AMD/1USD, the cutting off rate rose from 455 AMD/1USD to 567.65 AMD/1USD and
fell to 445 AMD/1USD.

 

In the retail foreign exchange market of Armenia on 20
December as of 5:00pm, the exchange rates at the swap points were as follows:
455 AMD/1 USD, 555 AMD/1 EUR, 7.8 AMD/1 RUR. The highest rates at banks on 20
December were as follows:  454/458 AMD/1
USD, 544/565 AMD/1 EUR, and 7.62/7.86 AMD/1 RUR. 

 

On 1-5 December, the foreign exchange interbank market
showed an unprecedented maximum - $59.3 million. Forex transactions on NASDAQ
OMX Armenia from June up to 19 December totaled $397.150 million with the
exchange rate rising from 407.14 AMD/1 USD to 560 AMD/1 USD and then falling to
442.44 AMD/1 USD.  Nearly $117 million
of total transactions were made in November. In the retail foreign exchange
market of Armenia on 20 December the exchange rates (purchase/sale) at the swap
points were as follows: 435/465 AMD/1 USD, 525/570 AMD/1 EUR, 7/8.15 AMD/1 RUR.