Armenia`s interbank foreign exchange  market saw significant increase in  dollar transactions  from July 21- 25, 2025, with no ruble transactions taking place

ArmInfo. In Armenia's interbank foreign exchange market, there was a notable increase  in the volume of dollar transaction from July 21 to July 25, 2025, while ruble transactions remained unchanged. Euro transactions have not been conducted for two months. Particularly, the weekly trend for dollar transactions shifted from a 73% decrease to a 2-fold increase.

In addition, during the reporting period (21-25.07.25 compared to 14-18.07.25), the interbank foreign exchange market saw a decrease in both the purchase and sale of dollars, as well in euros. In ruble transactions there was  a decrease along with a slowdown in sales growth. As a result, from July 21 to July 25 of this year, the dram continued to strengthen  against the dollar - from AMD 384.3 to AMD 383.8 d/$1, and against the ruble - from AMD 4.88 to AMD 4.80/1 RUB, while weakening against the euro - from AMD 445.5 to AMD 450/1 EUR. Comparatively, on July 25, 2024, the dram exchange rate was AMD 387.5  / $ 1, AMD 421.5 / 1EUR and AMD 4.48 / 1RUB. This  indicates an annual revaluation of the dram against the dollar, and a devaluation against the euro and the ruble compared to the current rates.

According to the Central Bank of the Republic of Armenia, only dollar transactions were carried out in the interbank foreign exchange market from July 21 to 25 of this year. Transactions occurred three times on Wednesday, Thursday and Friday (July 23, 24 and 25), while the currency platform was empty  on Monday and Tuesday (July 21 and 22). The total weekly volume of dollar transactions amounted to $ 7.5 million at an average rate of AMD 384 / $ 1 (compared to AMD 383.93/ $ 1 the previous year). The maximum volume of dollar transactions "appeared" on Friday (July 25) - $3.5 million.

In the intra-bank foreign exchange market from July 21 to 25 of this year, compared to the previous week (14-18.07.25), the decrease in the purchase and sale of dollars slowed from 18.2-7% to 10.4-6%. The trend in the purchase and sale of euros also reversed from 18.4-18% growth to a 21-30% decline. For ruble transactions, the decrease in purchases slowed from 14.5% to 10.5%, accompanied by a decrease in sales growth from 50.1% to 20.5%. During the reporting week, $135.4 million was purchased at an average rate of AMD 382.53/$1, 30.8 million euros at an average rate of AMD 444.46 /1EUR, and 15.6 billion rubles at an average rate of AMD 4.87 /1RUB. $279.4 million was sold at an average rate of AMD 385.17 /$1, 46.2 million euros at an average rate of AMD 452.61 /1EUR, and 3.5 billion rubles at an average rate of AMD 4.94 /1RUB. The largest volumes of dollar purchases and sales occurred on Monday (July 21 - $35.8 million and $78.6 million).On the same day the maximum volumes of euro and ruble purchases were recorded (July 21 - 7.7 million euros and 4.3 billion rubles), while the largest volumes of euro and ruble sales occurred on Tuesday and Friday, respectively (July 22 - 11.6 million euros and July 25 - 1.1 billion rubles).

According to the Central Bank of the Republic of Armenia, in January-May 2025, the Central Bank made interventions in the foreign exchange market from February to May, totaling $519.4 million, with the exchange rate strengthening from AMD 394.19 in February to AMD 385.90 /$1 in May, and these were only purchase operations. In the interbank foreign foreign exchange market from January to May 2025, $2.6 billion, 829.4 million euros and 313 billion rubles were purchased, and $4.1 billion, 1.5 billion euros and 82.1 billion rubles were sold. This led to the purchase rate in the interbank foreign exchange market in May being AMD 384.87 /$1, AMD 430.58 /1 EUR and  AMD 4.76/1 RUB, with the selling rate at  AMD 388.21 /$1, AMD 439.69/1EUR and AMD 4.83/1 RUB,  compared to the rates in  December 2024 which were AMD 394.84 /$1, AMD 413.75/1EUR, AMD 3.84 /1RUB - for buying, and AMD 398.16 /$1, AMD 420.09 /1EUR, AMD 3.97/1 RUB - for selling. In the foreign exchange market in January-May 2025, there were dollar transactions totaling $275 million, ruble transactions - 17.2 billion rubles, and euro transactions only in February-March and May amounting 1.9 million euros. During this period,  the dram weakened against the ruble and euro to AMD 4.80 /RUB and AMD 436.40  / 1 EUR by May, while strengthened against the dollar to AMD 386.08 / $ 1 compared to December 2024 rates of AMD 3.84 / 1 RUB,  AMD 414.25/ 1 EUR and AMD 396.1 / $ 1.

In the interbank foreign exchange market during the reporting period, the largest volume of dollar transactions was made in January ($ 81 million), ruble transactions - in May (7.7 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 and in five months (June-October) dollar transactions were carried out for a total of $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. From January to May, 2025,  dollar transactions were carried out on the foreign exchange platform for $3.8 million, accompanied by the strengthening of the dram from AMD 398.75 in January to  AMD 388.28 /$1 in May.

 Recall  that ruble transactions in the interbank foreign exchange market of Armenia started on March 14, 2022. From that moment until the end of the year, transactions worth 8.7 billion rubles were carried out, with additional 17.5 billion rubles expected for the whole of 2023. This was accompanied by a weakening of the dram against the ruble in the interbank foreign exchange market in March-December 2022 from AMD 4.86 to AMD 5.8 /1 RUB. However, there was a subsequent strengthening of the dram against the ruble to AMD 4.47/1 RUB by the end of 2023, and further improving to AMD 3.84 /1 RUB by the end of 2024.