ArmInfo. Dollar transactions resumed on the Armenian interbank foreign exchange market from April 28 to May 2, 2025 (after a week long absence), while ruble transactions continued to decline. Euro transactions have not been carried out for nearly two months. The downward weekly trend of ruble transactions slowed from 55% to 22.2%. As a result, the total weekly volume of dollar transactions began to exceed ruble transactions by 2 times. In parallel with this, in the intra-bank foreign exchange market for the reporting week (28.04-02.05.25 compared to 21-25.04.25) the purchase of dollars continued to decline, while sales saw an increase. In euro transactions purchases began to grow while sales growth slowed down, and in ruble transactions purchases and sales were in decline. As a result, from April 28 to May 2 , 2025, the dram slightly weakened against the dollar - from AMD 389.3 to AMD 389.5/$1, while remaining stable against the euro at AMD 441 /1 EUR, and the ruble at AMD 4.64 /1RUB.
A year earlier, on May 2, 2024, the dram exchange rate to the dollar was AMD 387 /$1, to the euro - AMD 414.5/1EUR, and to the ruble - AMD 4.16 /1RUB, Compared to the current rates, this indicates an annual devaluation of the dram against the dollar, the euro, and the ruble. According to the Central Bank of the Republic of Armenia, dollar transactions were conducted three times and ruble transactions twice in the interbank foreign exchange market from April 28 to May 2 of this year. Both occurred simultaneously on Monday and Tuesday (April 28 and 29), and only dollar transactions took place n Friday (May 2). The interbank foreign exchange market was completely empty on Wednesday (April 30), and Thursday was a non-working day. The total weekly volume of dollar transactions amounted to $8.5 million with an average rate of AMD 390.31/$1, and ruble transactions - 350 million rubles with an average rate of AMD 4.73 /1RUB (compared to AMD 4.69/1RUB the week before). In particular, the interbank foreign exchange market operated only three days during the reporting week - Monday-Tuesday and Friday (April 28-29 and May 2). The highest volume of both dollar and ruble transactions occurred on Tuesday (April 29) - $5 million and 200 million rubles.
In the intrabank foreign exchange market from April 28 to May 2 of this year, compared to the previous week (21-25.04.25), the decline in dollar purchases slowed down from 24% to 4%, while the sales trend shifted from an 8% decline to a 3% increase. For euro transactions, the purchase trend changed from a 23% decline to a 15% increase, accompanied by a slowdown in sales growth from 20% to 18%. In ruble transactions, the slowdown in purchase growth decreased from 13.3% to 0.7%, and there was a reversal in the sales trend from a 91% increase to a 35.3% decline. During the reporting period, $119.4 million was purchased an average rate of AMD 87.65 /$1, over 33.4 million euros at an average rate of AMD 437.99/1EUR, and over 14.6 billion rubles at an average rate of AMD 4.70/1RUB. Additionally, $209.2 million were sold at an average rate of AMD 390.91 /$1, 66.7 million euros at an average rate of AMD 445.79/1EUR, and 2.99 billion rubles at an average rate of AMD 4.80 /1RUB. The largest volume of dollar purchases was recorded on Tuesday (April 29 - $35.9 million) with the maximum sales on Monday (April 28 - and $63.8 million). The highest volume of euro purchases was recorded on Wednesday (April 30 - 11.9 million euros) with the peak of sales on Friday (May 2 - over 21 million euros), and the largest volume of ruble sales occurred on the same day (May 2 - 1.3 billion rubles) with the maximum purchases on Monday (April 28 - 4.6 billion rubles).
According to the Central Bank of the Republic of Armenia, in January-February 2025, the Central Bank made interventions in the foreign exchange market in February alone in the amount of $10 million at the rate of AMD 394.19 /$1, and these were solely purchase operations. In the intra-bank foreign exchange market in January-February 2025, $960 million, 305.4 million euros and 106.6 billion rubles were purchased, and $1.4 billion, 543.4 million euros and 36.2 billion rubles were sold. As a result, the purchase rate in the intra-bank foreign exchange market in February stood at the level of AMD 394.17 /$1, AMD 408.89/1 EUR and AMD 4.24 /1 RUB. The sale rate was AMD 396.87/$1, AMD 415.57 /1 EUR and AMD 4.33/1 RUB. This is compared to the rates in December 2024, which were AMD 394.84 /$1, AMD 413.75 /1 EUR, and AMD 3.84/1 RUB - for purchase, and AMD 398.16/$1, AMD 420.09/1EUR, and AMD 3.97 /1 RUB for sale.
From January to February 2025,transactions in the foreign exchange interbank market totaled $148 million in dollars, 7.3 billion in rubles, and 1 million in euros ( only in February, at a rate of AMD 413.75 / 1 EUR). The dram depreciated against the ruble to AMD 4.25 / 1 RUB in February, but slightly appreciated against the dollar to AMD 396.09 / $ 1 compared to from December 2024, when it was AMD 3.84 / 1 RUB and AMD 396.1 / $ 1. In the interbank foreign exchange market during this period, the highest volume of dollar transactions was made in January ($ 81 million), while ruble transactions peaked in February (over 5.5 billion rubles). The currency exchange platform, after eight years of "silence", resumed its operations in June 2024. Over the course of five months (June-October) dollar transactions totaled $14.7 million, accompanied by the appreciation of the dram from June AMD 388.90 to October AMD 387.75ms/$1. In November-December, the currency exchange platform was inactive. From January to February 2025, dollar transactions totaling $1 million were carried out on the currency exchange platform, accompanied by the appreciation of the dram from January AMD 398.75 to February AMD 397 drams/$1.
Let us recall that ruble transactions in the Armenian interbank foreign exchange market began on March 14, 2022. From that point until the end of the year, transactions totaling 8.7 billion rubles were carried out, with an additional 17.5 billion rubles projected for the entirety of 2023. During this period, the dram depreciated against the ruble in the interbank foreign exchange market dropping from AMD 4.86 to AMD 5.8 / 1RUB from March to December 2022. However, by the end of 2023, the dram appreciated against the ruble to AMD 4.47 / 1RUB.
