ArmInfo.From April 6 to 10, 2026, ruble transactions were more active than dollar transactions in the Armenian Interbank foreign exchange market, while euro transactions have not been executed for a month and a half.
Specifically, a single dollar transaction, due to its volume, reversed the 70% decline to a 22.2% increase. This trend was even more impressive in ruble transactions, which saw an 88% decline turn into a significant 7.4-fold increase. As a result, the weekly volume of ruble transactions regained its lead over dollar transactions, with a 2.1-fold gap, whereas dollar transactions had dominated for a month and a half previously.
Concurrently, in the interbank foreign exchange market, there was a reversal in the trend of dollar purchases and sales during the reporting week (April 6-10, 2026 compared to March 30-April 3, 2026). For euro transactions, a sharp slowdown in the growth of purchases was accompanied by a subtle slowdown in the decline in sales, while for ruble transactions, the growth of purchases and the decline in sales accelerated.
As a result, from April 6 to 10, 2026, the dram "froze" against the dollar at AMD 375.3/$1, weakening against the euro from AMD 434.5 to AMD 438 drams/1 EUR and continuing to weaken against the ruble from AMD 4.69 to AMD 4.84 /1 RUB. A year earlier, on April 10, 2025, the dram exchange rate against the dollar was AMD 391.5/$1, against the euro - AMD 430.5/1 EUR, and against the ruble - AMD 4.57 drams/1 RUB. Compared to current rates, this indicates an annual revaluation of the dram against the dollar of 4% and a devaluation against the euro and ruble of 2% and 6%, respectively.
According to the Central Bank of the Republic of Armenia, in the interbank foreign exchange market from April 6 to 10, 2026, there were dollar transactions conducted once and ruble transactions three times. Both dollar and ruble transactions occurred simultaneously on Thursday (April 9). The interbank foreign exchange market was completely empty on Monday and Wednesday (April 6 and 8). As a result, the volume of a single dollar transaction amounted to $5.5 million at an average rate of AMD 376.11/$1 (compared to AMD 377.68/$1 the week before), and the total weekly volume of ruble transactions reached 920 million rubles at an average rate of AMD 4.82/1RUB (compared to AMD 4.70/1 RUB the week before). The maximum volume of ruble transactions occurred on Tuesday (April 7) - 470 million rubles.
In the intrabank foreign exchange market from April 6 to 10, 2026, compared to the previous week (30.03- 03.04.26), the trend of buying and selling dollars reversed from 38.4-28.2% growth towards 23.1-6.8% decline. In euro transactions the growth of buying slowed from 41% to 1.2% with an imperceptible slowdown in the decline in sales from 19.2% to 15.6%, and in ruble transactions the growth of buying accelerated from 9.2% to 13% and the decline in sales from 1.1% to 26.5%. As a result, during the reporting week $165.97 million was purchased at an average rate of AMD 375.10 /$1, 43.96 million euros at an average rate of AMD 432.79 /1EUR, and over 8.4 billion rubles at an average rate of AMD 4.75 /1 RUB. Additionally, $174.9 million were sold at an average rate of AMD 377.38/$1, 43.9 million euros at an average rate of AMD 439.86/1 EUR, and 2.3 billion rubles at an average rate of AMD 4.84 /1 RUB. During the reporting week, the maximum volume of ruble sales was recorded on Tuesday (April 7 - 588.2 million rubles). The largest volumes of dollar purchases and sales were on Wednesday (April 8 - $45.7- 39.2 million), and the maximum volumes of euro purchases and sales and ruble purchases were recorded on Friday (April 10 - 20.97-11.8 million euros and 1.8 billion rubles). According to the Central Bank of Armenia, in January 2026, the Central Bank intervened in the foreign exchange market totaling $255.1 million, strengthening the exchange rate from AMD 381.49/$1 in December to AMD 379.79 /$1 in January. In the intrabank foreign exchange market in January 2026, $571.7 million, 159 million euros, and 30.6 billion rubles were purchased, while $806 million, 175.3 million euros, and 8.4 billion rubles were sold. This resulted in a January buying rate of AMD 378.53 /$1, AMD 440.79 /1EUR, and AMD 4.84/1RUB, and a selling rate of AMD 380.81/$1, AMD 448.11/1EUR, and AMD 4.94/1RUB, compared to December 2025 buying rates of AMD 380.38/$1, AMD 442.74/1EUR, and AMD 4.83/1RUB, and selling rates of AMD 382.62 /$1, AMD 449.26/1EUR, and AMD 4.91/1RUB, respectively.
In January 2026, dollar transactions totaling $42 million, euro transactions totaling ?1 million, and ruble transactions totaling 2.7 billion rubles were conducted in the interbank foreign exchange market. This was accompanied on the interbank currency market by a weakening of the dram against the ruble to AMD 4.90 /1 RUB in January and against the euro to AMD 451.25/1EUR, and a strengthening against the dollar to AMD 380.01/1$, up from AMD 4.88/1RUB, AMD 446.80/1EUR, and AMD 381.33 /1$ in December 2025, respectively.
In the foreign exchange market, dollar transactions totaling over $7.4 million were conducted in January 2026, accompanied by a strengthening of the dram to AMD 379.72/1$ in January, up from AMD 387.75 /1 $ in October, the last time dollar transactions appeared on the exchange a year earlier.
In the intra-bank foreign exchange market for the whole of 2025, $7.6 billion, 2.03 billion euros and 676.7 billion rubles were purchased, and $10.6 billion, 3.2 billion euros and 177.4 billion rubles were sold. This formed the purchase rate in December at the level of AMD 380.38/$1, AMD 442.74/1EUR and AMD 4.83/1RUB, and the selling rate at AMD 382.62/$1, AMD 449.26/1EUR and AMD 4.91/1 RUB, against the December 2024 rates of AMD 394.84 /$1, AMD 413.75/1 EUR, AMD 3.84/1RUBe - for buying, and AMD 398.16/$1, AMD 420.09/1EUR, and AMD 3.97 /1 RUB - for selling.
After eight years of "silence," the foreign 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 12 months of 2025, dollar transactions totaling $29,4 million were conducted on the foreign exchange platform, with the dram strengthening from AMD 398.75/$1 in January to AMD 381.25/$1 in July. The currency exchange market was active during the reporting year, reaching its peak monthly volume in November - $8,8 million.
Recall, ruble transactions in the Armenian interbank foreign 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 4.88 /1RUB in the interbank foreign exchange market.
Recall, 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 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.
