Armenian central bank sold $122.7 million last year

10.02.2017 19:02
Armenian central bank sold $122.7 million last year

YEREVAN, February 10. / ARKA /. The Central Bank of Armenia sold a total of $122.7 million at the local foreign exchange market, according to the monthly bulletin of the regulator for December 2016.
The first intervention was made at the beginning of the year by selling $53.1 million in January and $41.5 million in February. The central bank intervened also in November to sell $13.1 million, and in December, when it sold $15 million to show support to the national currency, the dram, which it needed at that period.

According to the National Statistical Service, the average exchange rate of a US Dollar in January was 486.04 drams growing to 493.64 drams in February. As a result the Armenian dram depreciated by 1.4%. In November, the average exchange rate of the greenback was 478.52 drams, rising to 482.84 drams in December. Overall, the Armenian dram depreciated last year by only 0.53%.

Besides, in 2016 the Central Bank bought a total of $152 million at the local forex market. In April the regulator bought $2.4 million; in June - $50.2 million; in August - $19.8 million; in September - $28.8 million, and in October - $50.8 million. Today, the US Dollar is being traded at 486.66 drams.-0-


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