Russians’ interest in Armenian national currency increased sharply after announcement of mobilization in Russia

YEREVAN, October 10. /ARKA/. After the announcement of partial mobilization by Russian President Vladimir Putin, Russians’ interest in the currencies of Armenia, other CIS countries and Turkey has sharply increased, according to Russian daily ‘Izvestia’, which cited data of Sravni marketplace.

Armenian dram and Kazakh tenge got the most attention. Interest in their exchange rates for the period from September 21 to October 2, 2022 was 7 and 6.5 times higher, respectively, than in  the same period last year.

The individuals were 4.5 times more active in tracking the exchange rate of the Azerbaijani manat, 3 times – the Uzbek sum, and they more than doubled their interest in the Turkish lira and Tajik somoni.

Russians have not ignored the traditional U.S. and EU currencies; the attention to their rates has increased by 2 and 3.5 times, respectively.

Major credit organizations confirmed to “Izvestia” the increased demand of Russians for the above currencies.

Absolut Bank said that they have noticed this trend in the market. The demand for monetary units of the CIS countries has been increasing since late September.

Since September 21, there has been a moderate growth of clients’ interest in foreign currencies, said “Russian Standard”. –0–

spot_img

POPULAR

Armbanks Weekly Digest: Key Events in the Armenian Financial Market (July 20–26)

Armenia's financial agenda last week was determined by the banking sector's first-half results, changes in the money transfer sector, and exchange rate dynamics.

World Bank does not see significant risks in Armenia’s public debt rising to 50% of GDP

Armenia's public debt could increase to approximately 50% of GDP by the end of 2026, but the World Bank does not view this level as a significant threat to the country's macroeconomic stability, said Armine Manukyan, Senior Economist at the World Bank.

Armenia’s $5.9 billion reserves cover more than four months of imports: former Finance Minister calls this a hedge against external shocks

Armenia's $5.9 billion international reserves cover more than four months of imports and currently provide a fairly reliable hedge against external shocks.

Euro, dollar, and ruble exchange rates against the Armenian dram have increased: Central Bank

Валют, на армбанкс евро, доллара и рубля к армянскому драму...

Moody’s Affirms Armenia’s Rating at Ba3 and Improves Outlook to Positive

The international rating agency Moody's Ratings has revised the outlook on Armenia's sovereign rating from stable to positive, affirming its long-term issuer ratings in both local and foreign currencies at Ba3.

LATEST NEWS

spot_imgspot_imgspot_img