ArmInfo. From September 15 to 19, 2025, there was a significant increase in dollar transactions in the Armenian interbank foreign exchange market, while ruble transactions saw a decrease. Euro transactions have been on hold for over four months. Specifically, the trend in dollar transactions shifted from a 42% decline to a significant 2.2-fold increase, while the trend in ruble transactions shifted from a 75% increase to a 22% decline. This resulted in the weekly dollar volume surpassing ruble transactions by 1.3 times, whereas the previous week's trend was the opposite: ruble transactions exceeded dollar transactions by 2.1-fold. Meanwhile, in the interbank foreign exchange market during the reporting week (September 15-19, 2025 compared to September 8-12, 2025), there was a continued decline in dollar buying and selling, a reversal from growth to decline in the euro buying and selling trend, and an increase in ruble buying, Alongside a decline in selling.
As a result, from September 15 to 19, the dram strengthened against the dollar from AMD 383.5 to AMD 382.5/ 1$, while continuing to weaken against the euro, from AMD 449 to AMD 450 drams/1 EUR, and set for devaluation against the ruble, from AMD 4.51 to AMD 4.57/RUB. A year earlier, on September 19, 2024, the dram exchange rate to the dollar was AMD 386.8/$1, to the euro - AMD 431.5 /1EUR, and to the ruble - 4.17 /1 RUB, which, compared to 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, four ruble transactions and only three dollar transactions were conducted in the interbank foreign exchange market from September 15 to 19 of this year, both transactions occurring simultaneously on Monday and Tuesday (September 15 and 16). As a result, the total weekly volume of dollar transactions amounted to $11 million at an average exchange rate of AMD 383.97 /$1 (compared to AMD 383.50 /$1 the week before), while the total weekly volume of ruble transactions amounted to 685 million rubles at an average exchange rate of AMD 4.60/RUB (compared to AMD 4.56 /RUB the week before). The maximum volume of dollar transactions occurred on Monday (September 15) - $6 million, while the largest volume of ruble transactions occurred on Friday (September 19) - 350 million rubles.
In the intrerbank foreign exchange market from September 15 to 19 of this year, compared to the previous week (09/08-12/25), the decline in dollar purchases and sales slowed from 23-26% to 2-9%. The euro buy and sale trend reversed from 27.1-32% growth to 32.3-24% decline, and for ruble transactions, the buying trend went from a 16% decline to 15% growth, accompanied by a reversal of the sales trend in the opposite direction - from 15% growth to 33.2% decline. As a result, during the reporting week, $169.9 million was purchased at an average rate of AMD 381.71 drams/$1, 32.5 million euros at an average rate of AMD 447.65s/1EUR, and 8.3 billion rubles at an average rate of AMD 4.56/1RUB. Additionally, $146.3 million was sold at an average rate of AMD 383.99/1$, 43.5 million euros at an average rate of AMD 454.46 /1 EUR, and 2.5 billion rubles at an average rate of AMD 4.66/1RUB. The highest dollar and euro sales volumes occurred on Tuesday (September 16 - $35.7 million and 11.4 million euros), with the highest euro purchase volume recorded the following day (September 17 - 8.4 million euros). The highest dollar, ruble purchases and sales volumes occurred on Friday (September 19 - $42.96 million, 2.1 billion rubles, and 739.9 million rubles).
According to the Central Bank of Armenia, in the first seven months of 2025, the Central Bank intervened in the foreign exchange market in the amount of $886.9 million from February to July, strengthening the exchange rate from AMD 394.19 drams/$1 in February to AMD 384.06/$1 in July. These were solely purchases.
In the interbank foreign exchange market, over the first seven months of 2025, over $4 billion, 1.2 billion euros, and 457.7 billion rubles were purchased, while $6.5 billion, 1.98 billion euros, and 106.4 billion rubles were sold. This resulted in a purchase rate at AMD 382.71/$1, AMD 445.07/1EUR, and AMD 4.85 /1 RUB in the interbank foreign foreign exchange market in July, and a sale rate of AMD 385.37 /$1, AMD 452.45/1EUR, and AMD 4.91 /1RUB, compared to the December 2024 rates of AMD 394.84 /$1, AMD 413.75 /1 EUR, and AMD 3.84/1RUB for purchases, and AMD 398.16 /$1, AMD 420.09 /1EUR, and AMD 3.97/1RUB for sale.
In the first 7 months of 2025, dollar transactions totaling $366.7 million and ruble transactions totaling 22.55 billion rubles were carried out in the interbank foreign exchange market, while euro transactions totaling 1.9 million euros were carried out in February-March and May. This was accompanied by a weakening of the dram against the ruble in the interbank foreign exchange market, reaching AMD 4.88 /1 RUB in July and a strengthening against the dollar to AMD 384.12/1$, compared to AMD 3.84 /1RUB and AMD 396.1 /1$r in December 2024. In the interbank foreign exchange market for this period, the largest volume of dollar transactions was completed in January ($81 million), ruble transactions in May (7.7 billion rubles), and euro transactions in February (1 million euros). After eight years of "silence," the currency exchange platform resumed its operations in June 2024. Over the five-month period (June- October), dollar transactions totaling $14.7 million were conducted, accompanied by a strengthening of the dram from AMD 388.9 /$1 in June to AMD 387.75 $1 in October. In November-December 2024, the foreign exchange platform was idle. Then, in 2025, over the seven months of 2025, dollar transactions totaling $10.1 million were conducted on the foreign exchange platform, accompanied by a strengthening of the dram from AMD 398.75/$1 in January to AMD 384.09/$1 in July. The currency exchange market was active during the seven months under review, reaching its peak monthly volume in July - $3.3 million.
Recall, ruble transactions in the Armenian interbank currency market started on March 14, 2022, and from that point until the end of the year, transactions totaling 8.7 billion rubles were executed, with an additional 17.5 billion rubles for the entire 2023. This was accompanied by a weakening of the dram against the ruble in the interbank foreign exchange market from March to December 2022, from AMD 4.86 to AMD 5.8/1RUB. However, the dram subsequently strengthened against the ruble to AMD 4.47/1RUB by the end of 2023 and further to AMD 3.84/1RUB by the end of 2024. However, since 2025, the dram has once again begun to weaken against the ruble. By the end of the first half of the year, it had returned to the initial exchange rate of the ruble in the interbank foreign exchange market - AMD 4.86 /1RUB.
