From September 22 to 26, 2025, there is a decrease in dollar  transactions in Armenia`s  interbank foreign exchange market 

ArmInfo.From September 22 to 26, 2025, there was a decrease in dollar transactions in the Armenian interbank foreign exchange market, while ruble transactions experienced an increase.

Euro transactions have been on hold for over  six months. Specifically, the trend in dollar transactions shifted  from a 68.2% decline to a significant 22.5-fold increase, while   ruble transactions shifted from a 22% decline  to a 6% increase. This  allowed the weekly volume of ruble transactions to regain its  2.5-fold advantage over dollar transactions, while the previous week  the opposite was true: dollar transactions exceeded ruble  transactions by 1.3 times. Meanwhile, in the interbank foreign  exchange market during the reporting week (September 22-26, 2025  compared to September 15-19, 2025), the decline in dollar purchases  accelerated while sales increased. The euro buying and selling trend  reversed its downward trend and increased, while in ruble  transactions, the decline in purchases was accompanied by an increase  in sales.

As a result, from September 22 to 26, the dram continued to  strengthen against the dollar, going from AMD 382.5 to AMD 382.3 /  1$, while it continued to weaken against the euro, dropping from AMD  450 to AMD 448 /1 EUR, and set for devaluation against the ruble,  from AMD 4.57 to AMD 4.54/RUB.  Comparing these rates to those  from  a year earlier, on September 26, 2024, where the dram exchange rate  to the dollar was AMD 387.5/$1, to the euro - AMD 431. /1EUR, and to  the ruble - 4.17 /1 RUB, it 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  two ruble transactions and only three dollar transactions in the  interbank foreign exchange market from September 22 to 26 of this  year.  These transactions took place simultaneously on Wednesday  (September 24). As a result, the total weekly volume of dollar  transactions amounted to $3,5 million at an average exchange rate of  AMD 383.54 /$1 (compared to AMD 383.97 /$1 the previous week), while  the total weekly volume of ruble transactions was 725 million rubles  at an average exchange rate of AMD 4.59/RUB (compared to AMD 4.6 /RUB  the previous week ). The maximum volume of dollar transactions  occurred on Tuesday (September 23) - $2 million, while the largest  volume of ruble transactions occurred on Wednesday (September 24) -  425 million rubles.

During the week of September 22 to 26 in the interbank currency  market,  there was a notable change in trends compared to  the  previous week (09/08-12/25). The decrease in dollar purchases and  sales slowed from 2% to 30,4 9%. The euro buy and sale trend also  shifted, going  from a 32%-24% decline to a  18- 29% increase. For  ruble transactions, the buying trend changed from a to 15% growth to  16% decline, while the sales trend reversed from 33.2% decline to  17.2% growth to. 

In total, during the reporting week, $118.2 million was purchased at  an average rate of AMD 381.46 drams/$1, 38,2 million euros at an  average rate of AMD 446.53/1EUR, and 6,9 billion rubles  at an  average rate of AMD 4.65/1RUB. Additionally, $148.5 million was sold  at an average rate of AMD 383.97/1$, 56,2 million euros at an average  rate of AMD 453.10 /1 EUR, and 2.9 billion rubles at an average rate  of AMD 4.65/1RUB. The highest dollar and ruble sales volumes were  recorded on Monday (September 22 - $29.2 million, 745.8 million  rubles ), while the highest euro purchase volume was on Wednesday  (September 24 - 11,9 million euros, 1.6 billion rubles), with the  maximum volume of euro sales recorded on Friday (September 26 - 16.9  million euros).

According to the Central Bank of Armenia, in the first seven months  of 2025, the Central Bank intervened in the foreign exchange market  with total 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 only purchases.

In the intrabank 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  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, there were dollar transactions  totaling $366.7 million ,ruble transactions totaling 22.55 billion  rubles and  euro transactions totaling 1.9 million  in the interbank  foreign exchange market, with euro transactions carried out in  February-March and May. During this period,  the dram weakened  against the ruble in the interbank foreign exchange market, reaching  AMD 4.88 /1 RUB in July and  strengthened against the dollar to AMD  384.12/1$, compared to AMD 3.84 /1RUB and AMD 396.1 /1$r in December  2024. 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  operations in June 2024. 

Over the five-month period (June-October), dollar transactions  totaling $14.7 million were conducted, with the dram strengthening  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, with the  dram strengthening 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. From that point until the end of the year,  transactions totaling 8.7 billion rubles were conducted, 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 mid-year mark,  it had reverted to the initial exchange rate of AMD 4.86 /1RUB in the  interbank foreign exchange market