YEREVAN, April 16. /ARKA/. The U.S. dollar rose 0.32% last week at NASDAQ OMX Armenia stock exchange and traded at 392.75 drams, on average.
Deals effected at the stock exchange for that week totaled $8.75 million – 43.8% less than over the previous week.
The dollar went 0.30% up against the Armenian national currency and traded at AMD 393.76 drams on Sunday.
The revaluation of the dollar in Armenia was fueled by high demand for foreign currencies and its stably high value at FOREX market.
The expected revaluation of the dollar across the world and the high demand for it in Armenia give grounds for thinking that the U.S. currency will continue its upward motion against the dram – the dollar is believed to be traded at 392.00 to 395.0 drams this week.
The euro’s value in Armenia was determined last week by deevlopments at FOREX, where EUR/USD slipped 0.14% to 1.3075, and dram/dollar exchange rate at Armenia’s forex market.
In the beginning of the last week the European currency traded upward as adverse economic data on new jobs in the United States for March were released on Friday.
These data chilled hopes some players’ hopes for early tightening of monetary policy by the U.S. regulator.
China’s first-quarter GDP data released on Friday and consumer inflation in the United States considerably changed world market sentiments and put EUR/USD under pressure last week, while in Armenia the euro rose 0.39% to 517.72.
The value of the euro across the world and also in Armenia will be determined by things at FOREX.
Publication of euro zone’s consumer inflation figures for March and the April business sentiments index to be released by German’s ZEW can be singled out among other important news.
The expected moderate positive economic statistical reports from the United States and the euro zone may give some support to the euro. However, if Germany’s business optimism index is adverse, the euro may go down.
In this connection the euro in Armenia is likely to be traded at 510 to 523 drams.
Russian ruble added 0.38% last week and traded at 13.26 drams, on average, due to the devaluation of the dram against the American currency and stable ruble/dollar exchange rate.
The ruble/dollar and ruble/dram exchange rates will depend on macroeconomic reports from the United States and the euro zone as well as on oil prices.
Even if economic statistical data are mixed, high prices for oil may support the ruble this week.
The expected dollar revaluation against the dram is believed to drive the ruble up against the dram.
The ruble is likely to be traded at 13.20 to 13.35 drams in Armenia in five trading days.
Mikael Verdyan, an analyst at FOREX CLUB, specially for ARKA news agency.
The opinion of the author does not necessarily reflect that of the agency.
