Summary of Transactions in Financial Markets of RA by “AMBERD” Research Center

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ASUE “AMBERD” Research Center has summarized transactions in financial markets of RA during October.

According to the summary, during October CBA has mainly used liquidity reducing instruments. As liquidity increasing instrument were only used weekly repos - with volume of 10 bln AMD. Like September, Central Bank hasn’t  implemented purchase of government bonds, but attracted deposits of 236.6 bln AMD.

The USD/AMD exchange rate mostly had rising trend during the month - for buy and sell prices growing by 0.54%. EUR/AMD falled, and RUB/AMD growed in October – accordingly at 0.79% and 0.28%.

Activity in repo, swap and interbank loan markets weakened. The volume of OTC repo transactions increased in 0.7%, and repo with Eurobonds decreased in 49.4%. Trading volume in interbank loan market has declined - for AMD loans with 4.5%, and for USD loans with 29%. In swap market, the trading volume with USD has decreased with 26.2%, and as to previous month, there have not been swap transactions in EUR.

Both primary and secondary government bond markets were quite active. But interest rates, although falled for short-term bonds, rose for medium and long term bonds. Short-term bonds yield was 6.63% at the end of October(at the end of September it was 6.78%). Yields of medium-term and long-term government bonds were 14.35% - compared to 13.43% for previous month.

Trading volume in corporate bond market, after strictly increasing during previous month, sharply fall with 80%. In stock market the situation have chaged vice versa: trading volume rose with  68 times from previous month, after the sharp decline in September.

Summary indicators of financial market,

Summary indicators of currency market,

Summary indicators  of monetary policy of CBA.

Situation and development of financial markets in October 2017 /monthly overview/.

ASUE Media  and Public Relations Division

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