ArmInfo. In Armenia's interbank foreign exchange market from August 18 to 22, 2025, there was a decrease in dollar transactions and an increase in ruble transactions.
Euro transactions have not been conducted for three months. Specifically, the weekly trend of dollar transactions shifted from a 95.4% growth to a 75.3% decline, while the trend of ruble transactions went from a 69.2% decline to a 5-fold growth. This resulted in weekly volume of ruble transactions exceeding dollar transactions by 3 times In the previous week, the opposite picture was observed - the total weekly volume of dollar transactions exceeded ruble transactions by 7 times.
During the reporting week (18-22.08.25 compared to 11-15.08.25), the interbank foreign exchange market experienced a decrease in purchase and sale of dollars, resulting in slowdown in rates. There was an increase in the purchase of euros began to grow and the decline in sales slowed down. In ruble transactions, the acceleration of the decline in purchases was accompanied by a shift in the sales trend towards a decline.
As a result, from 18 to 22 August this year, the dram continued to strengthen against the dollar - from AMD 382.5 to AMD 381.5/$1, against the euro - from AMD446 to AMD 443.5/1 EUR, and against the ruble - from AMD 4.76 to AMD 4.73/1 RUB. On August 22, 2024, the dram exchange rate to the dollar was AMD 387.8 /$1, to the euro -AMD 429/1EUR, and to the ruble - AMD 4.25/1 RUB, which, compared to the current rates, indicates an annual revaluation of the dram against the dollar, and a devaluation against the euro and the ruble. According to the Central Bank of the Republic of Armenia, in the interbank foreign exchange market from August 18 to 22 of this year, dollar transactions were conducted three times and ruble transactions daily. Both types "appeared" simultaneously on Tuesday, Thursday and Friday (August 19, 21 and 22). As a result, the total weekly volume of dollar transactions amounted to $4.2 million with an average rate of AMD 383.05/$1 (compared to AMD 383.72 /$1 a week earlier). The total weekly volume of ruble transactions amounted to 1 billion rubles with an average rate of AMD 4.76/1RUB (compared to 4.80r/1RUB a week earlier). The maximum volume of a dollar transaction "appeared" on Friday (August 22) - $1.7 million, and the largest volume of ruble transactions occurred on Wednesday (August 20) - 350 million rubles.
In the interbank foreign exchange market from August 18 to 22 of this year, in comparison with the previous week (11-15.08.25), the decline in the purchase and sale of dollars slowed down from 12.4-19.1% to 6.5-12.5%. The trend of buying up euros went from a 34% decline to a 23.2% growth with a slowdown in the decline in sales from 7.1% to 5.4%, and in ruble transactions, the acceleration of the decline in buying from 24% to 27% was accompanied by a reversal of the sales trend from a 2.1-fold growth towards a 33.2% decline. As a result, during the reporting week, $132.8 million was purchased at an average rate of AMD 381.56/$1, 50.1 million euros at an average rate of AMD 442.94 /1EUR, and 11.8 billion rubles at an average rate of AMD 4.75 /1RUB. Additionally, $205.5 million were sold at an average rate of AMD 383.99/$1, 70.8 million euros at an average rate of AMD 449.49 /1EUR, and 3.1 billion rubles at an average rate of AMD 4.82 /1RUB. The largest volumes of dollar purchases and sales and ruble purchases occurred on Monday (August 18 - $33.1 million, $58.4 million and 3.4 billion rubles), the maximum volumes of euro and ruble sales were recorded on Wednesday (August 20 - 22.7 million euros and 747.5 million rubles), and the largest volume of euro purchases "appeared" on Thursday (August 21 - 22.3 million euros).
According to the Central Bank of the Republic of Armenia, in the first half of 2025, the Central Bank made interventions in the foreign exchange market in February-June for a total of $749.4 million with the exchange rate strengthening from February AMD 394.19 to June AMD 384.03/$1, and these were only purchase operations. In the interbank foreign exchange market in the first half of 2025, $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 interbank foreign exchange market in June at AMD 382.67/$1, AMD 437.29/1 EUR and AMD 4.84/1 RUB, and the sale rate at AMD 385.71/$1, AMD 444.45 /1 EUR and AMD 4.94/1 RUB, compared to the December 2024 rate of AMD 394.84/$1, AMD 413.75 /1 EUR, AMD 3.84 /1RUB - for buying, and AMD 398.16 /$1, AMD 420.09/1 EUR, AMD 3.97 /1 RUB - for selling. In the first half of 2025, dollar transactions worth $311.5 million and ruble transactions worth 20.1 billion rubles were made in the interbank foreign exchange market, while euro transactions were made 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 to AMD 4.86/1RUB in June, and a strengthening against the dollar to AMD 384.65 /$1 from AMD 3.84/1RUB and AMD 396.1 /$1 in December 2024, respectively.
In the interbank foreign exchange market for this period, the largest volume of dollar transactions was conducted 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 2024, the currency exchange platform was empty. 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 AMD 398.75 in January to AMD 384.21/$1 in June. 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 Armenia's 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 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 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. Starting in 2025, the dram has 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 by the end of the first half of the year.
