ArmInfo.In Armenia's interbank currency market from June 15 to 19, 2026, ruble transactions experienced growth, while dollar transactions began to decline. Euro transactions have not been executed for nearly four months.
Specifically, the trend for dollar transactions reversed from a 20.5% growth to a 22.6% decline, whereas the trend for ruble transactions moved from a 27.6% drop to a 76.3% growth. This allowed the weekly volume of ruble transactions to regain dominance over dollar ones by a factor of 1.3, whereas just a week earlier, dollar transactions continued to dominate by nearly twofold.
In parallel, on the intra-bank currency market during the reporting week (June 15-19, 2026, compared to June 8-12, 2026), the dollar buying trend shifted toward a decline while the growth of sales accelerated. The trend for euro buying and selling moved out of a decline into double-digit growth, which was also observed in ruble transactions, where the buying and selling trend similarly reversed toward growth.
As a result, from June 15 to 19 of this year, the dram remained unchanged against the dollar at 367.5 AMD/$1, continued to strengthen against the euro from 427.3 to 423.5 AMD/1EUR, and also moved toward appreciation against the ruble from 4.90 to 4.81 AMD/1RUB. A year earlier, on June 19, 2025, the dram's exchange rate stood at 386.8 AMD/$1 against the dollar, 442.5 AMD/1EUR against the euro, and 4.88 AMD/1RUB against the ruble. Compared to current rates, this indicates an annual appreciation of the dram against the dollar, euro, and ruble by 5%, 4.3%, and 1.4% respectively.
According to the Central Bank of Armenia, ruble transactions were executed daily on the interbank currency market from June 15 to 19 of this year, whereas dollar transactions took place only twice. Both dollar and ruble transactions were carried out simultaneously on Tuesday and Wednesday (June 16 and 17). As a result, the total weekly volume of dollar transactions amounted to $18.2 million at an average exchange rate of 368.15 AMD/$1 (compared to 368.50 AMD/$1 a week earlier), while the weekly volume of ruble transactions reached 1.754 billion RUB at an average rate of 5.04 AMD/1RUB (compared to 5.07 AMD/1RUB a week earlier). The peak volumes for both dollar and ruble transactions were recorded on Tuesday (June 16), reaching $17.7 million and 496 million RUB respectively.
On the intra-bank currency market from June 15 to 19 of this year, compared to the previous week (June 8-12, 2026), the dollar buying trend reversed from a 47.3% growth to a 7.8% decline, while the growth of sales accelerated from 2.5% to 8.7%. The trend for euro buying and selling moved out of an 8–6.5% decline into double-digit growth of 21.7–23.3%. A similar shift was observed in ruble transactions, where the buying and selling trend reversed from a 26–49.5% decline toward a 14–13% growth.
Consequently, during the reporting week, banks purchased $227.3 million at an average rate of 367.14 AMD/$1, 70.2 million EUR at an average rate of 422.63 AMD/1EUR, and over 10.2 billion RUB at an average rate of 4.94 AMD/1RUB. Concurrently, they sold $281.3 million at an average rate of 369.05 AMD/$1, 75.9 million EUR at an average rate of 428.74 AMD/1EUR, and 3.2 billion RUB at an average rate of 5.10 AMD/1RUB. On the intra-bank market, the highest activity during the reporting week was recorded in the first two days: the maximum volumes for euro buying and selling were fixed on Monday (June 15 – 23.9 and 23.2 million EUR respectively); Tuesday saw the largest volumes for dollar buying/selling and ruble sales (June 16 – $64.7 and $74 million, 942.6 million RUB); and the peak volume for ruble buying was recorded on Thursday (June 18 – 2.2 billion RUB).
According to the Central Bank of Armenia (CBA), during January–April 2026, the Central Bank conducted market interventions totaling $763.1 million, which consisted entirely of buying operations and strengthened the exchange rate from 381.49 AMD/$1 in December to 373.40 AMD/$1 in April.
On the intra-bank currency market during January–April 2026, banks purchased $2.8 billion, 708 million EUR, and 138.2 billion RUB, while selling $3.02 billion, 872 million EUR, and 55.5 billion RUB. This activity formed April buying rates on the intra-bank market at 372.96 AMD/$1, 434.06 AMD/1EUR, and 4.84 AMD/1RUB, and selling rates at 375.33 AMD/$1, 440.02 AMD/1EUR, and 4.94 AMD/1RUB. In comparison, the December 2025 rates stood at 380.38 AMD/$1, 442.74 AMD/1EUR, and 4.83 AMD/1RUB for buying, and 382.62 AMD/$1, 449.26 AMD/1EUR, and 4.91 AMD/1RUB for selling.
On the interbank currency market during January–April 2026, dollar operations totaled $214.7 million, euro transactions amounted to 5.3 million EUR, and ruble deals ranged between 9.7 and 10.5 billion RUB. Notably, no euro transactions were executed in March and April. Over this period, the dram slightly weakened against the ruble on the interbank market to 4.89 AMD/1RUB and strengthened against the dollar to 372.99 AMD/$1, compared to December 2025 rates of 4.88 AMD/1RUB and 381.33 AMD/$1 respectively. As a reminder, ruble transactions on Armenia's interbank currency market originally launched on March 14, 2022.
On the stock exchange currency platform during January–April 2026, dollar transactions amounted to $18.2 million, accompanied by the strengthening of the dram to 371.41 AMD/$1 in April from 387.75 AMD/$1 in October, which was the last time dollar operations appeared on the exchange the previous year.
