ArmInfo. During the week of June 8–12, 2026, dollar transactions maintained growth on Armenia's interbank foreign exchange market, whereas ruble transactions experienced a contraction. Euro operations have been absent for nearly four months. Notably, the growth of dollar transactions decelerated sharply from a 20-fold increase to 20.5%, while the trend for ruble transactions inverted from a 25.5% expansion to a 27.6% decline. Consequently, the weekly volume of dollar transactions maintained its dominance over ruble volumes, exceeding them by nearly twofold.
Parallel to this, dynamics on the intra-bank foreign exchange market during the reporting period (June 8– 12, 2026, compared to June 1–5, 2026) indicated that the transition of dollar purchasing into growth was accompanied by a deceleration in sales growth. Furthermore, euro purchasing and sales reversed from positive growth to a downturn—a trend mirrored by ruble transactions, which similarly shifted from growth to contraction.
As a result, from June 8-12, the dram continued to strengthen against the dollar, from 368.5 to 367.5 AMD/USD, also setting itself up for appreciation against the euro, from 430 to 427.3 AMD/EUR, while weakening against the ruble, from 4.89 to 4.90 AMD/RUB. A year earlier, on June 12, 2025, the dram exchange rate against the dollar was 384.3/$, against the euro – 442.5 drams/EUR, and against the ruble – 4.77 drams/RUB. Compared to current rates, this indicates an annual revaluation of the dram against the dollar and euro of 4% and 3%, respectively, and a devaluation against the ruble of 3%.
Central Bank of RA data indicates that ruble transactions were executed daily on the interbank FX market from June 8 to 12, whereas dollar transactions occurred on four trading days. Parallel dollar and ruble clearing took place Monday through Wednesday, and on Friday (June 8–10 and 12). In aggregate, the weekly volume of dollar transactions amounted to $23.5 million at an average exchange rate of 368.50 AMD/$1 (down from 368.65 AMD/$1 in the preceding week). The weekly volume of ruble transactions stood at 995 million rubles, with an average rate of 5.07 AMD/RUB (up from 5.05 AMD/RUB a week earlier). The maximum volume for dollar operations peaked on Tuesday (June 9) at $8.5 million, while the highest volume for ruble operations was registered on Wednesday (June 10) at 475 million rubles.
On the intra-bank foreign exchange market, during the week of June 8–12 of this year, compared to the preceding week (June 1–5, 2026), the trend for dollar purchases reversed from a 0.6% decline into a 47.3% surge, while sales growth decelerated from 4.8% to 2.5%. The buying and selling trend for the euro flipped from a substantial 75.3% and 48.8% growth, respectively, toward an 8% and 6.5% decline. A similar contraction was observed in ruble transactions, where the buying and selling trend reversed from a 12.8% and 83.3% expansion toward a 26% and 49.5% drop.
As a result, $246.6 million were purchased during the reporting week at an average rate of 367.29 AMD/USD, 57.7 million euros at an average rate of 422.89 AMD/EUR, and 8.97 billion rubles at an average rate of 4.96 AMD/ RUB, while $258.8 million were sold at an average rate of 369.48 AMD/USD, 61.5 million euros at an average rate of 429.23 AMD/ EUR, and 2.8 billion rubles at an average rate of 5.13 AMD/ RUB. On the intra-bank FX market, trading activity peaked on Monday and Friday during the reporting week. Specifically, the maximum volumes for ruble buying and selling, as well as euro sales, occurred on Monday (June 8 — 2.2 billion and 1.1 billion rubles, and over EUR16.4 million, respectively). On Friday, the market recorded its highest volumes for dollar buying and selling, alongside euro purchases (June 12 — $90.1 million and $94.6 million, and EUR 18.2 million, respectively).
According to the Central Bank of Armenia, in Q1 2026, the Central Bank intervened in the foreign exchange market totaling $603.1 million, strengthening the exchange rate from 381.49AMD/USD in December to 378.63 AMD/USD in March.
On the intrabank foreign exchange market in Q1 2026, $1.97 billion, 479.2 million euros, and 95.2 billion rubles were purchased, while $2.23 billion, 642 million euros, and 41.7 billion rubles were sold. This resulted in a buying rate of 376.10 AMD/USD, 433.44 AMD/EUR, and 4.67 AMD/RUB on the intrabank foreign exchange market in March, while the selling rate was 378.49 AMD/USD, 439.42 AMD/EUR, and 4.74 AMD/RUB, compared to the December 2025 buying rates of 380.38AMD/USD, 442.74 AMD/EUR, and 4.83 AMD/RUB, and selling rates of 382.62 AMD/USD, 449.26 AMD/EUR, and 4.91 AMD/RUB.
On the interbank FX market in Q1 2026, dollar transactions totaled $107.2 million, euro transactions totaled 5.3 million, and ruble transactions totaled 7.2 billion. Moreover, no euro transactions were carried out in March. During this period, the dram strengthened against the ruble to 4.65 AMD/RUB and against the dollar to 378.18 AMD/USD on the interbank foreign exchange market, up from 4.88 AMD/USD and 381.33 AMD/USD in December 2025, respectively.
Recall, ruble transactions on the Armenian interbank FX market began on March 14, 2022. On the foreign exchange platform, dollar transactions totaling $17.3 million were executed in Q1 2026, accompanied by a strengthening of the dram to 378.19 AMD/USD1 in March, up from 387.75 AMD/USD in October, which marked the last period dollar operations were registered on the exchange.
