YEREVAN. – Banks in Armenia purchased $70.6 million and sold $90.8 million from May 29 to June 1st. Demand continues to overpass offer, despite the fact that average rate for US dollar sharply grew up last week.

Banks purchased $5.7 million and sold $11 million in inter-bank foreign exchange market. Thus, Armenian citizens continue to prefer euro and dollar instead of Armenian dram even in the case of weakening European currency.

Banks purchased also RUR 513 million (about $15 million) and sold RUR 102 million (about $3 million) over passing week.

To note, the credit market got activated on May 21-27. Banks granted loans at the amount of $75 million on national currency and $41.7 million on US dollars.