ArmInfo.From October 27- 31, 2025,there was an increase in dollar and ruble transactions in Armenia's interbank foreign exchange market. Euro transactions have been on hold for over five months. The trend for dollar transactions reversed from a 44% decline to a significant increase of 2.3 times. This was also observed for ruble transactions, which shifted from a 48% decline to a moderate 25% increase.
As a result, the weekly volume of dollar transactions exceeded ruble transactions, while in the previous two weeks, ruble transactions had remained dominant (1.2-1.1 times).
During the reporting week (October 27-31, 2025 compared to October 20-24, 2025), in the interbank foreign exchange market there was an increase in dollar purchases, along with sales growth. Additionally, both euro and ruble purchases and sales also saw an increase. As a result, from October 27 to 31, the dram "froze" against the dollar at AMD 383.5 /$1, while continuing to strengthen against the euro, from AMD 445 to AMD 443 /1 EUR, and weakening against the ruble, from AMD 4.69 to AMD 4.71 /RUB. A year earlier, on October 31, 2024, the dram exchange rate against the dollar was AMD 386.8/$1, against the euro - AMD 419/1 EUR, and against the ruble - AMD 3.98 /1 RUB. Compared to current rates, this 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, dollar transactions were conducted daily in the interbank foreign exchange market from October 27 to 31 of this year, and only two ruble transactions, with both dollar and ruble transactions occurring simultaneously on Wednesday and Friday (October 29 and 31). As a result, the total weekly dollar transaction volume amounted to $15.9 million at an average rate of AMD 382.96 /$1 (compared to AMD 382.93 /$1 the week before), while the total weekly ruble transaction volume amounted to 750 million rubles at an average exchange rate of AMD 4.79 /1 RUB (compared to AMD 4.70/1RUB the previous week). The highest dollar volume was recorded on Thursday (October 30) at $4 million, while the largest ruble volume occurred on Friday (October 31) at 650 million rubles.
In the interbank foreign exchange market from October 27 to 31 of this year, compared to the previous week (20-24.10.25), the dollar buying trend went from a 0.7% decline to a 23% increase with sales growth accelerating from 6.5% to 11%. For euro transactions, the buying and selling trend reversed from a 7.6- 14.3% decline to a 77.3-3.5% increase. This was also observed for ruble transactions, where the buying and selling trend also reversed from a 21-38% decline to a 27.4-30.5% increase. As a result, during the reporting week, $177.1 million was purchased at an average rate of AMD 381.58 /$1, 52.2 million euros at an average rate of AMD 440.73/1EUR, and 9.3 billion rubles at an average rate of AMD 4.74/1 RUB. Additionally, $180.3 million was sold at an average rate of AMD 383.76/$1, 49.9 million euros at an average rate of AMD 447.68 /1EUR, and 3.8 billion rubles at an average rate of AMD 4.83/1 RUB. The largest volumes of euro purchases and ruble sales occurred on Tuesday (October 28 - 17.3-15.2 million euros and 1.1 billion rubles), followed by the maximum dollar purchase and sale volume on Wednesday (October 29 - $55.7-53.5 million). The largest volume of ruble purchases occurred on Friday (October 31 - 2.3 billion rubles).
According to the Central Bank of Armenia, over the first 8 months of 2025, the Central Bank intervened in the foreign exchange market in February-August for a total of $1.069 billion, strengthening the exchange rate from AMD 394.19/$1 in February to AMD 383.49 /$1 in August, and these were only purchase operations.
Over $4.6 billion, ?1.4 billion and 520,4 rubles were purchased in the interbank foreign exchange market in the first 8 months of 2025, and $7.5 billion, ?2.3 billion and 119,6 roubles were sold. This formed the purchase rate in August in the interbank foreign exchange market at the level of AMD 381.91 /$1, AMD 441.62 /1EUR and AMD 4.77 /1RUB and the sale rate at the level of AMD 384.39 /$1, AMD 448.27 /1 EUR and AMD 4.84 /1RUB, compared to the December 2024 rates of AMD 394.84 /$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 /1 RUB - for selling.
In the first 8 months of 2025, there were dollar transactions totaling $398.6 million ,ruble transactions totaling 25,2 billion rubles and euro transactions totaling 1.9 million in the interbank foreign exchange market, with euro transactions carried out in February-March and May. During this period, the dram weakened against the ruble in the interbank foreign exchange market, reaching AMD 4.77 /1 RUB in August and strengthened against the dollar to AMD 383.67/1$, 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
