In Armenia`s interbank foreign exchange market, dollar and ruble transactions decreased from July 14-18, 2025

ArmInfo. In the Armenian interbank foreign exchange market,  there was a decrease in both dollar and ruble transactions from July 14 to July 18, 2025. Euro transactions have not been conducted for almost two months. Specifically, the weekly trend for ruble transactions reversed from a 2-fold increase to a 34% decline, while the decrease in dollar transactions accelerated from 40% to 73%. This led  to ruble transactions surpassing dollar transactions for the second week in a row, with the difference now  being 2.5 times compared to  the previous 1.1 times.

In the intra-bank foreign exchange market during the reporting week (14-18.07.25 compared to 07- 11.07.25) the purchase and sale of dollars decreased. Conversely, the purchase of euros increased,  with sales growth accelerating. In ruble transactions, the reduction in purchase was accompanied by the growth of sales. As a result, from 14 to July 18 of this year, the dram experienced a revaluation against both the dollar - from AMD 384.5 to AMD 384.3/$1, and against the ruble - from AMD 4.89 to AMD 4.88 /1RUB, while continuing to strengthen against the euro - from AMD 449.5 to AMD 445.5/1EUR. A year earlier, on July 18, 2024, the  exchange rate to the dollar was AMD 387.8 /$1, AMD 423.5 /1 EUR, and AMD 4.38 drams/1 RUB. This indicates an annual revaluation of the dram against the dollar, and a devaluation against the euro and ruble.

According to the Central Bank of the Republic of Armenia, there were dollar transactions and four ruble transactions in the interbank foreign exchange market from July 14 to 18, 2025. During the reporting week, the foreign exchange market was empty only on Monday (July 14),  dollar and ruble transactions were conducted simultaneously only on Wednesday and Thursday (July 16 and 17), and on the remaining days only ruble transactions were carried out (Tuesday and Friday - July 15 and 18). As a result, the total weekly volume of dollar transactions amounted to $3.7 million with an average rate of AMD 383.93 /$1 (compared to AMD 383.79 /$1 a week earlier). The total volume of ruble transactions amounted to 725 million rubles with an average rate of AMD 4.91/1RUB (compared to AMD 4.89 /1RUB a week earlier). The maximum volume of dollar transactions "appeared" on Wednesday (July 16) - $2 million, and the highest volume of ruble transactions occurred on Friday (July 18) - 225 million rubles.

In the intrabank foreign exchange  market from July 14 to 18 of this year,  the dollar buying and selling trend reversed from 15.8-8.4% growth towards 18.2-7% decline, compared to the previous week (07- 11.07.25). The euro buying trend went from 24.7% decline to 18.4% growth with sales growth accelerating from 12.6% to 18%, and for ruble transactions, the buying trend reversal from 35% growth towards 14.5% decline was accompanied by the sales trend going from 13% decline to 50.1% growth. As a result, during the reporting week, $151.2 million was purchased at an average rate of AMD 382.63/$1, 39 million euros at an average rate of AMD 443.61/1EUR, and 17.4 billion rubles at an average rate of AMD 4.89 /1RUB, and over $297.3 million were sold at an average rate of AMD 385.37 /$1, 65.9 million euros at an average rate of AMD 451.10/1EUR, and 2.93 billion rubles at an average rate of AMD 4.96/1RUB.

The largest volumes of ruble purchases and sales occurred on Monday (July 14 - 4.6 billion and 1.2 billion rubles). The peak volumes of euro purchases, sales and dollar sales were recorded on Wednesday (July 16 - 11.5 million euros, 16.4 million euros, and $75.4 million), while the largest volume of dollar purchases occurred on Thursday (July 17 - $36.2 million). According to the Central Bank of the Republic of Armenia, in Q1 2025, the Central Bank only intervened in the foreign exchange market in February and March, totaling $94 million. This intervention strengthened the exchange rate from AMD 394.19 /$1 in February to AMD 393.14/$1 in March, and these were solely purchase operations.

In Q1 2025, in the interbank foreign exchange market, $1.5 billion, 444.5 million euros and 171.8 billion rubles were purchased, and $2.2 billion, 892.2 million euros and 51.1 billion rubles were sold. This resulted in purchase rates of AMD 390.77r/$1, AMD 419.57/1EUR and AMD 4.53 /1 RUB, and sale rates of AMD 394.14 /$1, AMD 426.95 /1EUR and AMD 4.65/1 RUB, compared to the rates in December 2024, which were AMD 394.84 /$1, AMD 413.75 /1EUR, AMD 3.84/1 RUB - for purchase, and AMD 398.16 /$1, AMD 420.09 /1 EUR, and AMD 3.97/1RUB - for sale. In the interbank foreign exchange market in Q1 2025, dollar transactions totaling $191 million and ruble transactions totaling 6.8 billion rubles were made, while euro transactions were made only in February-March for a total of 1.7 million euros. This was accompanied by a weakening of the dram against the ruble and euro in the interbank foreign exchange market to  AMD 4.54 /1 RUB and AMD 426.25 /1 EUR in March, and a slight strengthening against the dollar to AMD 393.65/$1, from AMD 3.84/1 RUB, AMD 414.25/1 EUR and AMD 396.1 /$1  in December 2024.

 In the interbank foreign exchange market, the largest volume of dollar transactions was made in January ($81 million), ruble transactions in March (2.95 billion rubles), and euro transactions in February (1 million euros). 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 strengthening of the dram from AMD 388.90 in June to AMD 387.75 /$1 in October. In November- December, the currency exchange platform was empty. In Q1 2025,  dollar transactions totaling $1.850 million were carried out on the currency exchange platform, accompanied by the strengthening of the dram from AMD 398.75 in January to AMD 393.14/$1 in March.

Recall that ruble transactions in the Armenian interbank foreign exchange market started 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 all of 2023. This was accompanied by a weakening of the dram against the ruble in the interbank foreign exchange market in March-December 2022, dropping from AMD 4.86 to AMD 5.8 /1RUB. However, there was a subsequent strengthening of the dram against the ruble to AMD 4.47 /1RUB by the end of 2023 and further improving to AMD 3.84 /1 RUB by the end of 2024.