ArmInfo. From May 5 to 8, 2026, both USD and RUB transactions decreased in Armenia's interbank foreign exchange market. Euro transactions have not been carried out for nearly three months. The decrease in dollar transactions accelerated from 37.2% to 70.1%, and the trend in ruble transactions also declined by 13% (from a 12.4% increase).
This shift allowed the weekly volume of RUB transactions to surpass USD transactions by a small margin of 1.1 times, whereas in the previous week, USD transactions had exceeded RUB transactions by 2.6 times.
In the interbank foreign exchange market, USD and EUR purchases began to decline during the reporting week (May 5-8, 2026 compared to April 27-30, 2026), alongside a sharp slowdown in sales of these currencies. In RUB transactions, the slowdown in the growth of purchases was accompanied by a reversal in the sales trend. As a result, from May 5 to 8, 2026, the AMD continued to strengthen against both the USD from AMD 369.5 to AMD 368.5/ $1, and against the EUR, from AMD 432.8 to AMD 432/1EUR, setting itself up for revaluation against the RUB, from AMD 4.88 to AMD 4.85/1RUB. A year earlier, on May 8, 2025, the AMD exchange rate against the USD was AMD 389.3 /$1, against the EUR – AMD /1 EUR, and against the RUB – AMD4.65/1RUB. Compared to current rates, this indicates an annual revaluation of the AMD against the USD and EUR of 5% and 2%, respectively, and a devaluation against the RUB of 4%.
According to the Central Bank of the Republic of Armenia, four RUBle transactions and three USD transactions were conducted in the interbank foreign exchange market from May 5 to 8 of this year (May 4 is a non-working day), with both USD and RUB transactions taking place simultaneously from Tuesday to Thursday (May 5-7). As a result, the total weekly USD transaction volume amounted to $8.085 million at an average exchange rate of AMD 369.61/$1 (compared to AMD 371.38/$1 the week before). The total weekly RUB transaction volume increased to 677 million rubles at an average exchange rate of AMD 4.92 /1 RUB (compared to AMD 4.95 /1 RUB the week before). The peak dollar transaction volume was recorded on Wednesday (May 6) at $4 million, while the largest ruble transaction volume occurred on Friday (May 8) at 275 million rubles.
In the intrabank foreign exchange market from May 5 to 8, 2026, compared to the previous week (27- 30.04.26), the USD buying trend reversed from 40.6% growth to a 14.2% decline with a strong slowdown in sales growth from 32.3% to 13.4%, which was also observed in EUR transactions - the buying trend reversed from 24.4% growth to a 13.7% decline with a sharp slowdown in sales growth from 43.4% to 4.2%. In ruble transactions, the slowdown in buying growth from 18.7% to 6.5% was accompanied by a reversal in the sales trend from a significant 2.2-fold growth to a 48.3% decline. As a result, during the reporting week, $157.7 million was purchased at an average rate of AMD 368.40/$1, 38.6 million EUR at an average rate of AMD 430.01/1EUR, and 9.9 billion RUB an average rate of AMD 4.86/1RUB. Additionally, $191.5 million was sold at an average rate of AMD 371.02/$1, 56.1 million EUR at an average rate of AMD 436.99 /1EUR, and 2.5 billion RUB at an average rate of AMD 5.00 /1RUB. During the reporting week, the highest USD and RUB purchases were recorded on Tuesday (May 5 - $59.98 million and RUB 3.1 billion). The same day also saw the highest euro purchases and sales (May 5 - EUR 14.7-18.3 million). The highest USD and RUB sales were recorded on Wednesday (May 6 - $75.7 million and RUB 741.5 million).
According to the Central Bank of Armenia, in January-February 2026, the Central Bank intervened in the foreign exchange market for $571.9 million, strengthening the exchange rate from AMD 381.49 /$1 in December to AMD 378.26 /$1 in February. These were only purchases.
In interbank foreign exchange market in January-February 2026, $1.223 billion, 307.8 million euros and 62.8 billion rubles were purchased, and $1.473 billion, 388.8 million euros and 20.8 billion rubles were sold. This resulted in a purchase rate of AMD 376.25 /$1, AMD 442.91/1EUR, and AMD 4.87/1 RUB in the interbank foreign exchange market in February, and a sale rate of AMD 378.64 /$1, AMD 449.22 /1 EUR, and AMD 4.97/1RUB, compared to December 2025 rates of AMD 380.38/$1, AMD 442.74/1 EUR, and AMD 4.83/1RUB for purchases, and AMD 382.62/$1, AMD 449.26 /1EUR, and AMD 4.91 /1 RUB for sale.
In January-February 2026, USD transactions totaled $66.9 million, EUR transactions totaled 5.3 million, and RUB transactions totaled 4.4 billion. This was accompanied by a depreciation of the AMD against the RUB to AMD 4.91/1RUB in February and AMD 447.18 /1 EUR against the euro, and a appreciation against the USD to AMD 377.87/ $, up from AMD 4.88/1RUB, AMD 446.80 /1 EUR, and AMD 381.33 /1$ in December 2025.
Recall, RUB transactions in the Armenian interbank foreign exchange market began on March 14, 2022. On the currency exchange platform, dollar transactions totaling $10.2 million were carried out in January- February 2026, resulting in the appreciation of the AMD to AMD 377.63 /$1 in February, up from AMD 387.75 in October
