YEREVAN. – US Dollar exchange rate appreciation has made the population sell more US Dollars.

According to the weekly report released by the Central Bank of Armenia (CBA), banks purchased about $67.5 million from the population April 18 to 22 – 1.5 times as much as the previous months. However, it is not a record. Last February the banks managed to purchase a total of $75 million by means of their exchange offices.

However, the increased US Dollar supply can be viewed as a factor that contributed to the recent US Dollar depreciation.

The demand for US Dollars remains high. This week, Armenian banks and exchange offices have sold about $76 million, that is, more than they have purchased.

This month, the Armenian financial market has registered not only exchange fluctuations, but also a sharp decline in US Dollar credits. April 11 to 17, banks issued loans totaling $33.3 million, which is one of the smallest figures this year. On the other hand, Armenian dram (AMD) loans showed an increase: April 11 to 17, Armenians banks issued AMD loans totaling AMD 23.7 billion ($64 million) – a 40% increase as compared with last week.