The demand for U.S. dollars remains high in the Armenian currency market. Banks purchased a total of U.S. $62 million and sold U.S. $65 million February 7 to 11. The figures are lower than last week, which can be interpreted as inactive market.
 
Demand for U.S. dollars exceeding supply may cause AMD devaluation. However, due to exchange business, the USD exchange rate has remained within 360-370/U.S. $1.

A total of U.S. $7 million transactions have been effected on the NASDAQ OMX Armenia stock exchange this week - about 10% of the transactions effected in the currency market.

Banks` behavior may account for the fact that that the stock exchange plays a major role in the AMD exchange rate. It is easier for banks to implement their currency policy as they follow the stock exchange trends.