Tue, 8 April
15.1 C
Yerevan
USD: 391.14 RUB: 4.55 EUR: 428.65 GEL: 142.05 GBP: 501.60
spot_img

Armenia: Forex market review for June 3-7

YEREVAN, June 10. /ARKA/. Last week, the average weighted exchange rate of U.S. dollar at NASDAQ OMX Armenia stock exchange fell by 0.97% to 413.44 drams as the weekly trading decreased by 47.52 percent from the previous week to $8.88 million. The average exchange rate of the greenback declined further by 0.95% on June 8 to 414, 72 drams on the back of falling demand for foreign currency by businesses and individuals and depreciation of U.S. dollar at international currency markets.


This week the U.S. dollar’s value is likely to consolidate or rise a little against the backdrop of anticipated positive trends at international currency markets. Thus, in view of the ongoing demand for currency the average selling rate of cash dollar this week will be between 413.0 – 418.0 drams. The recovery of the U.S. currency will be prevented by slashed amount of its purchase by individuals and businesses. According to the Central Bank of Armenia, net sales of greenback by local commercial banks last week dropped to $2.392 million, 67.96% less than the previous week.


The cost of euro last week in Armenia was determined by developments at global currency markets where the EUR/USD rose by 1.70% to 1.3216, and the dynamics of Armenian dram against the U.S. dollar. The single European currency has seriously strengthened its position after the European regulator decided not to change the terms of its monetary policy, leaving its key interest rate unchanged at 0.50%.


In addition, conflicting data from the U.S. labor market prompted speculation about the need to continue the program of quantitative easing in the previous amount. As a result, the average selling rate of cash euro in Armenia last week rose 0.83% to 551.31 drams.

The average selling rate of cash Russian ruble last week declined by 2.11% to 13.01 drams due to the rising cost of the dram against the U.S. dollar and its against U.S. dollar at international currency markets. -0-

By Mikael Verdyan, FOREX CLUB analysts, written specially for ARKA news agency.
The views of the author may not necessarily represent those of the agency

spot_img

POPULAR

Armenia discusses bankruptcy reforms with ADB and AFD

Reforms of Armenian legislation in the field of bankruptcy were discussed at a meeting between Deputy Minister of Justice of Armenia Tigran Dadunts and representatives of the Asian Development Bank (ADB) and the French Development Agency (AFD).

Average AMD/USD exchange rate in March was 1.9% lower than a year ago

In March 2025, the average AMD/USD exchange rate was 392.8, which is 1.9% lower than in March 2024 (400.4 AMD), the National Statistical Committee reports.

Banks and SMEs discuss prospects for cooperation (VIDEO)

The Union of Armenian Banks, in collaboration with the German-Armenian Fund, brought together representatives of the financial sector to conduct an important dialogue between banks and SMEs, summarize the past year, and plan for future work.

Dollar, Euro And Ruble Exchange Rates Slightly Decrease Against Dram

The average market exchange rate of the US dollar to the Armenian dram on April 4, 2025, dropped by 0.1 points compared to April 3 and amounted to AMD 391.22.

Draft law on crypto assets to be submitted to Armenian parliament in coming weeks – Deputy Chairman of Central Bank

The draft law on crypto assets, developed by the Central Bank of Armenia in the context of European norms, will be submitted to the Armenian parliament in the coming weeks, said Deputy Chairman of the Central Bank Armen Nurbekyan.

LATEST NEWS

spot_imgspot_imgspot_img