ArmInfo.From August 11 to 15, 2025, in Armenia's interbank foreign exchange market, there was an increase in dollar transactions and a decrease in ruble transactions. Euro transactions have not been conducted for almost three months.
The weekly trend for dollar transactions shifted from a 21% decline to a 95.4% growth, while the trend for ruble transactions reversed from an 86% growth to a 69.2% decline. This increased the prevalence of the total weekly volume of dollar transactions over ruble transactions from 1.1 times to 6.8 times. During the reporting week (11-15.08.25 compared to 04-08.08.25), in the interbank foreign exchange market the buying and selling of dollars and euros decreased. In ruble transactions, decease in purchases was accompanied by an increase in sales. As a result, from 11 to 15 August of this year, the dram began to strengthen against the dollar from AMD 383.5 to AMD 382.5/$1, also setting itself up for revaluation both against the euro from AMD 447 to AMD 446/1 EUR, and against the ruble from AMD 4.78 to AMD 4.76 /1 RUB. On August 15, 2024, the dram exchange rate was AMD 388.8 / $ 1, AMD 426 / 1 EUR, and AMD 4.32 / 1 RUB, which, compared to the current rates, indicates an annual revaluation of the dram to the dollar, and a devaluation to the euro and ruble.
According to the Central Bank of the Republic of Armenia, dollar transactions were carried out in the interbank foreign exchange market daily from August 11 to 15 of this year, with only one ruble transaction, and both simultaneously "appeared" on Thursday (August 14). As a result, the total weekly volume of dollar transactions amounted to $ 17 million with an average rate of AMD 383.72/ $ 1 (compared to AMD 384 / $ 1 a week earlier). The volume of a single ruble transaction amounted to 200 million rubles with an average rate of AMD 4.80 / 1 RUB (compared to 4.79 / 1 RUB a week earlier). The same maximum volumes of dollar transactions "appeared" on Thursday and Friday (August 14 and 15) - $4.5 million each.
In the interbank foreign exchange market from August 11 to 15 of this year, in comparison with the previous week (04-08.08.25), the trend of buying and selling dollars reversed from 0.7-33% towards a 12.4- 19.1% decline and, the trend of buying and selling euros also reversed from 97.2-27.3% growth towards a 34-7.1% decline. As for ruble transactions, the reversal of the buying trend from 48.1% growth towards a 24% decline was accompanied by the exit of the selling trend from a 44.6% decline to a 2.1-fold growth. As a result, during the reporting week, $142 million was purchased at an average rate of AMD 382.19 /$1, 40.7 million euros at an average rate of AMD 443.73 /1EUR, and 16.2 billion rubles at an average rate of AMD 4.79r/1RUB. Additionally, $234.8 million was sold at an average rate of AMD 384.72 /$1, 74.9 million euros at an average rate of AMD 450.18r/1EUR, and 4.6 billion rubles at an average rate of AMD 4.86r/1RUB. The largest volumes of dollar and euro sales and ruble purchases occurred on Monday (August 11 - $56.8 million, 21.3 million euros and 4.4 billion rubles). The maximum dollar purchase was recorded on Wednesday (August 13 - $31.7 million), the largest euro purchase was on Thursday (August 14 - 10.4 million euros), and the maximum ruble sales were recorded on Friday (August 15 - 2.2 billion rubles). According to the Central Bank of the Republic of Armenia, in the first half of 2025, the Central Bank intervened in the foreign exchange market in February-June for a total of $749.4 million with the exchange rate strengthening from February's AMD 394.19 to June's AMD 384.03 /$1, and these were solely purchase operations.
In the first half of 2025, in the interbank foreign exchange market $3.3 billion, 1.01 billion euros and 382.9 billion rubles were purchased, and $5.2 billion, 1.7 billion euros and 92.9 billion rubles were sold. This formed the purchase rate in the intra-bank foreign exchange market in June at AMD 382.67 /$1, AMD 437.29 /1EUR and AMD 4.84 /1 RUB, and the sale rate at AMD 385.71/$1, AMD 444.45 /1EUR and AMD 4.94 /1 RUB compared to December 2024 AMD 394.84r/$1, AMD 413.75/1 EUR, and AMD 3.84 /1 RUB - for buying, and AMD 398.16 /$1, AMD 420.09 /1EUR, and AMD 3.97/1RUB - for selling. In the first half of 2025, dollar transactions worth $311.5 million and ruble transactions worth 20.1 billion rubles were conducted in the interbank foreign exchange market, while euro transactions occurred only in February-March and May for a total of 1.9 million euros. This was accompanied by a weakening of the dram against the ruble in the interbank foreign exchange market from AMD 4.86 drams/1 RUB, and a strengthening against the dollar to AMD 384.65/$1 in June, from December 2024's AMD 3.84 /1 RUB and AMD 396.1 /$1, respectively.
For this 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 June AMD 388.90 to October AMD 387.75/$1. In November-December 2024, the currency exchange platform was empty. Then in 2025, in the first half of the year, dollar transactions for $6.8 million were carried out on the currency exchange platform, accompanied by the strengthening of the dram from January AMD 398.75 to June AMD 384.21/$1. The currency exchange platform was active during the reporting six months, "highlighting" the maximum monthly volume in June - $3 million.
Let us 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 made, with additional17.5 billion rubles expected 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 strengthening of the dram against the ruble to AMD 4.47 / 1 RUB by the end of 2023 and further to AMD 3.84 / 1 RUB by the end of 2024. However, starting in 2025, the dram once again begun to weaken against the ruble, returning to the initial exchange rate of the ruble in the interbank foreign exchange market - AMD 4.86/1 RUB bythe end of the first half of the year.
