Saturday, January 18 2025 12:07
Karina Melikyan

Activity resumed in Armenia`s interbank foreign exchange market in  second week of 2025 

Activity resumed in Armenia`s interbank foreign exchange market in  second week of 2025 

ArmInfo. January 13 to 17, 2025, in Armenia's interbank foreign exchange market, only one USD and two RUB transactions were effected, with no EUR transactions effected. USD transactions showed a 4.6-fold growth against a 64% decline the previous week. The total amount of USD transactions  exceeded that of RUB almost 2-fold.

During the period under review against the previous week (Jan. 7-10,  2025), USD, EUR and RUB purchases and sales showed a rowth, with RUB  transactions showing manyfold growth. 

January 13-17, 2025, saw further AMD depreciation against the USD -  AMD 398/$1 to AMD 399/$1, with an AMD depreciation trend toward the  EUR against - AMD 412.8/EUR 1 to AMD 414/RUB 1, and AMD appreciation  against the RUB - AMD 3.89/RUB 1 to AMD 3.86/RUB 1. 

On January 17, 2024, the AMD/USD exchange rate was AMD 406.3/$1,  AMD/EUR exchange rate, AMD 443/EUR 1 and AMD/RUB exchange rate, AMD  4.58/RUB 1, which is evidence of y/y AMD appreciation against the  USD, EUR and RUB. 

For the period under review, the CBA reports one USD transaction,  $9.5mln, was effected at an average exchange rate of AMD 400.22/$1  (as against AMD 398.5/$1 during the last week of Dec. 2024). RUB  550mln transactions, at an average exchange rate of AMD 3.9/RUB 1. No  transactions were effected on the interbank foreign foreign exchange  market on January 13-15. RUB transactions started on January 16, with  the only USD transaction effected on January 17. The period under  review saw the largest volume of RUB transactions on January 16(RUB  400mln).

January 13 to 17, 2025, against the previous period (Jan. 7-10,  2025), in Armenia's intrabank foreign exchange market, USD purchases  showed a 29.7% growth against a 51.3% decline, with USD sales showing  a 50.1% growth against a 46.8% decline. EUR purchases showed a 50%  growth against a 46.8% decline, with EUR sales showing a 78% growth  against a 46.6% decline. RUB purchases showed a 3-fold growth against  a 72.8% growth, and RUB sales showed a 2-fold growth against a 76.2%  growth. 

During the period under review, USD purchases totaled $116.6mln at an  average exchange rate of AMD 396.08/$1, over EUR 33.1mln at an  average exchange rate of AMD 404.7/EUR 1, and RUB 13.8bln at an  average exchange rate of AMD 3.85/RUB 1. USD sales totaled $207.5 mln  at an average exchange rate of AMD 399.78/$1, EUR sales totaled EUR  56.9mln at an average exchange rate of AMD 413.58/EUR 1, and RUB  sales over RUB 4.4bln at an average exchange rate of AMD 4.01/RUB 1. 

The largest USD purchases were reported on January 16 ($32.2mln),  with the largest USD sales recorded on January 14 ($47.2mln) The  largest EUR purchases were recorded on January 17  (EUR 9.9mln), with  the largest EUR sales recorded on January 14 (EUR 12.4mln). The  largest RUB purchases were recorded on January 13 (RUB 2.99bln) with  the largest RUB sales recorded on January 17 (RUB 1.3bln). 

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.

POST A COMMENT
Input digits     


News
Active USD transactions in Armenia`s interbank foreign exchange market  February 3-7, 2025Active USD transactions in Armenia`s interbank foreign exchange market  February 3-7, 2025
Traffic in Upper Lars returned to normalTraffic in Upper Lars returned to normal
International Business Relations Support Council head criticizes tax  hike for SMEsInternational Business Relations Support Council head criticizes tax  hike for SMEs
ZCMC started terminating employment contracts with saboteursZCMC started terminating employment contracts with saboteurs
Deputy Economy Minister: Businesses should understand that without  proper document flow it is impossible to ensure smooth business  operationsDeputy Economy Minister: Businesses should understand that without  proper document flow it is impossible to ensure smooth business  operations
Armenian jewelry dealers offer their own formula for eliminating the   Armenian jewelry dealers offer their own formula for eliminating the   "shadow"
Lusine Gevorgyan, the head of the Tourism Committee of Armenia, hopes for the liberalization of the visa regime with the EU in the next 5 years.  She stated this during a press conference on February 7.Lusine Gevorgyan, the head of the Tourism Committee of Armenia, hopes for the liberalization of the visa regime with the EU in the next 5 years.  She stated this during a press conference on February 7.
Retail jewelers  losing their competitiveness. Armenian Ministry of  Finance has a solutionRetail jewelers  losing their competitiveness. Armenian Ministry of  Finance has a solution
Tourism Committee to enhance organized tourism developmentTourism Committee to enhance organized tourism development
Representatives of Human Rights Defender met with ZCMC employeesRepresentatives of Human Rights Defender met with ZCMC employees
Birth rate in Armenia decreased by 8% in 2024Birth rate in Armenia decreased by 8% in 2024
By 2025, Armenia`s population exceeded 3 million peopleBy 2025, Armenia`s population exceeded 3 million people
Armenia`s trade sector generated $16.2 billion in revenue in 2024.Armenia`s trade sector generated $16.2 billion in revenue in 2024.
Air cargo transportation maintained double-digit growth in 2024,  while other types of transportation saw a declineAir cargo transportation maintained double-digit growth in 2024,  while other types of transportation saw a decline
Armenia`s communications sector experienced accelerated  growth in  2024Armenia`s communications sector experienced accelerated  growth in  2024
ZCMC issues another statement regarding the situation at the  enterpriseZCMC issues another statement regarding the situation at the  enterprise
Armenia`s ECPC Head to participate in the meeting of antimonopoly  agencies of  EAEU countries in Armenia`s ECPC Head to participate in the meeting of antimonopoly  agencies of  EAEU countries in "5+1" format
Human rights NGOs urging Armenian authorities to revert back to the  previous taxation system for legal servicesHuman rights NGOs urging Armenian authorities to revert back to the  previous taxation system for legal services
Gevorg Papoyan on the situation with SMEs in jewelry industry: there  is a lack of informationGevorg Papoyan on the situation with SMEs in jewelry industry: there  is a lack of information
Armenian products will have digital marking for export to EAEUArmenian products will have digital marking for export to EAEU
Economy  Minister  sees light at the end of  <Amulsar tunnel>Economy  Minister  sees light at the end of  
Minister of Economy: The situation at ZCMC falls under the  jurisdiction of the Trade Union, the company`s management, and its  employeesMinister of Economy: The situation at ZCMC falls under the  jurisdiction of the Trade Union, the company`s management, and its  employees
Lawyer comments on government policy to organize `prosperous and  carefree` life for Armenian citizensLawyer comments on government policy to organize `prosperous and  carefree` life for Armenian citizens
Armenia`s minister of economy hosts IMF delegation Armenia`s minister of economy hosts IMF delegation 
Armenia revising $200mln investment loan agreement with EFSD to fund  Kajaran tunnel construction Armenia revising $200mln investment loan agreement with EFSD to fund  Kajaran tunnel construction 
Armenia`s government approves 50% increase in IMF country quota Armenia`s government approves 50% increase in IMF country quota 
 EDB to issue $2mln grant to Armenia to enhance public finance  management efficiency EDB to issue $2mln grant to Armenia to enhance public finance  management efficiency
Armenian government will support ASCE Group in issuing bondsArmenian government will support ASCE Group in issuing bonds
Electricity generation in Armenia increased by 6.5% in 2024Electricity generation in Armenia increased by 6.5% in 2024
In 2024, wine production in Armenia decreased by 29%In 2024, wine production in Armenia decreased by 29%
Economy Ministry officials met with jewelry industry representativesEconomy Ministry officials met with jewelry industry representatives
Armenia`s foreign trade saw a significant increase in the share of  precious metals and stones from 12% to 51% in 2022-2024, although the  growth rate is starting to slow downArmenia`s foreign trade saw a significant increase in the share of  precious metals and stones from 12% to 51% in 2022-2024, although the  growth rate is starting to slow down
During 2024, the Armenian government returned about $1 billion to  taxpayers - PashinyanDuring 2024, the Armenian government returned about $1 billion to  taxpayers - Pashinyan
SRC Head: 4,451 individuals reported their income to the Armenian tax  authority for 2024SRC Head: 4,451 individuals reported their income to the Armenian tax  authority for 2024
Armenia`s metallurgical industry closed 2024 in the blackArmenia`s metallurgical industry closed 2024 in the black
In 2024, Armenia`s economic activity growth rate slowed down from  9.4% to 8%In 2024, Armenia`s economic activity growth rate slowed down from  9.4% to 8%
Armenia joins ECAC initiative on cooperation and exchange of  experience in the field of accident investigation in civil aviationArmenia joins ECAC initiative on cooperation and exchange of  experience in the field of accident investigation in civil aviation
Armenian authorities strangling SMEs with new tax duties - protest in  YerevanArmenian authorities strangling SMEs with new tax duties - protest in  Yerevan
The gambling industry in Armenia will be subject to a 10% turnover  tax in addition to current taxes and dutiesThe gambling industry in Armenia will be subject to a 10% turnover  tax in addition to current taxes and duties
Global economy takes wait-and-see attitude - Amundi Global economy takes wait-and-see attitude - Amundi 
 Vine and Wine Foundation of Armenia promoting Armenian wines in  Japanese market  Vine and Wine Foundation of Armenia promoting Armenian wines in  Japanese market 
Armenian authorities to extend tax breaks for private companies  issuing their bondsArmenian authorities to extend tax breaks for private companies  issuing their bonds
Armenia, India discuss simplified visa requirements Armenia, India discuss simplified visa requirements 
Interest rates remain stable due to high demand for consumer and  mortgage loansInterest rates remain stable due to high demand for consumer and  mortgage loans
Central Bank Governor: Business lending growth in 2024 will help us  achieve economic activity level projected for 2025Central Bank Governor: Business lending growth in 2024 will help us  achieve economic activity level projected for 2025
Martin Galstyan: Economic activity in Armenia is weakening and labor  market development prospects are too uncertainMartin Galstyan: Economic activity in Armenia is weakening and labor  market development prospects are too uncertain
In January 2025, Armenia`s state treasury revenues increased by 40.3%  compared to January 2024 In January 2025, Armenia`s state treasury revenues increased by 40.3%  compared to January 2024 
Italian Trade and Investment Agency to establish presence in ArmeniaItalian Trade and Investment Agency to establish presence in Armenia
Armenia`s GDP growth in 2024 will be significantly lower than in 2023  - Luys FoundationArmenia`s GDP growth in 2024 will be significantly lower than in 2023  - Luys Foundation
Armenia`s Union of Employers urges ZCMC employees to engage in  constructive negotiationsArmenia`s Union of Employers urges ZCMC employees to engage in  constructive negotiations
In 2024, Armenia increased its public debt by almost $1 billionIn 2024, Armenia increased its public debt by almost $1 billion
Armenian CB reduces refinancing rate to 6.75%Armenian CB reduces refinancing rate to 6.75%
Lawyers start protest against Bar taxation Lawyers start protest against Bar taxation 
Amundi expects 2-digit growth in almost all markets Amundi expects 2-digit growth in almost all markets 
Armenia, Czech Republic discuss cooperation in the field of solid  waste processingArmenia, Czech Republic discuss cooperation in the field of solid  waste processing
ArmInfo released its 30th bulletin ArmInfo released its 30th bulletin "Armenian banks in the card  business"
New IDBank Branch in ArmavirNew IDBank Branch in Armavir
"Amundi Investment Outlook 2025": Bright spots in a world of  irregularities
Pay with IDBank Mastercard and get 5% idcoinPay with IDBank Mastercard and get 5% idcoin
RA Finance Minister discusses Armenia`s tax policy with Joseph  Stiglitz RA Finance Minister discusses Armenia`s tax policy with Joseph  Stiglitz 
Read more
Exchange rates
07.02.2025
RUB4.100.02
USD396.76-0.07
EUR411.800.64
GBP493.891.15
CAD276.990.61
JPY26.080.06
CNY54.43-0.01
CHF437.49-0.90