Rally expected to be seen in foreign currency transactions at Armenian stock market in December

16.11.2015 18:28
Rally expected to be seen in foreign currency transactions at Armenian stock market in December

YEREVAN, November 16. /ARKA/. A rally in transactions with foreign currencies is expected to be seen at Armenia’s stock market after flagging, NASDAQ OMX Armenia CEO Konstantin Saroyan said on Monday.

“Foreign currency transactions will resume (after two weeks of stagnation) in December,” he said. “We are trying to introduce new mechanisms for trading. I can’t open the brackets now, but we hope to see amounts of deals increased.”

The last forex transaction was made at the stock exchange on October 30, when the US dollar traded at AMD 473.75.

Voicing concern over the lack of transactions at the foreign currency platform, Saroyan said players at stock exchange are not in need to made such transactions at the stock exchange, since there are alternative ways to do it.

Some 1,918 transactions totaling $299.8 million have been effected at NASDAQ OMX Armenia over the first nine months of 2015 against 3,971 transactions worth $613.9 million that have been carried out here over the same period a year before – a 51.2% decline.

In January 2008, Nordic exchange operator OMX Group acquired 100% of the shares of the Armenian Stock Exchange (Armex) and the Central Depository of Armenia (CDA). After the combination of NASDAQ and OMX in February 2008, Armex and CDA became fully owned by the NASDAQ OMX Group, Inc. On January 26, 2009, “Armenian Stock Exchange” ojsc was officially renamed as “NASDAQ OMX Armenia” ojsc. On June 5, 2009, “NASDAQ OMX Armenia” ojsc became the owner of 100% of the shares of the “Central Depository of Armenia” ojsc. ($1 – AMD 481.76). ---0----


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