ArmInfo.From July 6 to July 10, 2026, USD transactions on Armenia's interbank foreign exchange market shifted to growth, while RUB transactions saw an accelerated decline.
Notably, EUR transactions have remained stagnant for over four months. Specifically, the trend for dollar transactions reversed from an 81.5% decline to a 66.7% increase, while the decline in ruble transactions accelerated from 1.3% to 15%. Nevertheless, the weekly volume of ruble transactions maintained its lead over dollar transactions, although the margin narrowed from a three-fold to a 1.5-fold difference.
Concurrently, in the interbank foreign exchange market for the reporting week (July 6–10, 2026, compared to June 29–July 3, 2026), the trends for dollar and euro purchases and sales shifted from decline to growth. Regarding ruble transactions, the reversal of the purchase trend toward growth was accompanied by a shift in the sales trend into decline.
As a result, from July 6 to July 10, 2026, the Armenian dram continued to strengthen against the U.S. dollar—rising from 366.5 to 365.5 AMD/USD—and against the euro—rising from 420 to 418 AMD/EUR—while weakening against the ruble, from 4.35 to 4.39 AMD/RUB. A year earlier, on July 10, 2025, the exchange rates were 384.5 AMD/USD, 450.5 AMD/EUR, and 4.87 AMD/RUB. Compared to current rates, this indicates an annual revaluation of the dram against the dollar, euro, and ruble of 5%, 7%, and 10%, respectively.
According to data from the Central Bank of Armenia, ruble transactions were conducted four times and dollar transactions three times on the interbank foreign exchange market between July 6 and July 10, 2026. Notably, dollar and ruble transactions occurred simultaneously on Tuesday (July 7) and Thursday–Friday (July 9–10). The market remained inactive on Monday, July 6.
In total, the weekly volume of dollar transactions reached $10 million at an average exchange rate of 367.34 AMD/USD (compared to 367.85 AMD/USD the previous week). The weekly volume of ruble transactions totaled 1.145 billion rubles at an average exchange rate of 4.81 AMD/RUB (compared to 4.70 AMD/RUB the previous week). The maximum volume of dollar transactions was recorded on Tuesday, July 7 ($6 million), while the highest volume of ruble transactions occurred on Friday, July 10 (520 million rubles).
On the inter-bank foreign exchange market, from July 6 to July 10, 2026, compared to the previous week (June 29–July 3, 2026), the trend for dollar purchases and sales shifted from a 0.04–1.7% decline to 40% and 3% growth, respectively. A similar trend was observed for euro transactions, where the purchase and sale volumes reversed from a 13.4–18.5% decline to 5.4% and 2.5% growth. Regarding ruble transactions, the shift in the purchase trend from a 21.3% decline to 8% growth was accompanied by a reversal in the sales trend, which moved from 66.2% growth to a 38.3% decline.
In total, during the reporting week, $271.9 million was purchased at an average rate of 366.28 AMD/USD, 53.8 million euros at an average rate of 416.99 AMD/EUR, and 8.2 billion rubles at an average rate of 4.60 AMD/RUB. Sales for the same period amounted to $251.5 million at an average rate of 368.21 AMD/USD, 54.9 million euros at an average rate of 422.81 AMD/EUR, and 3.02 billion rubles at an average rate of 4.79 AMD/RUB.
On the intra-bank foreign exchange market, the maximum volume of ruble sales was recorded on Monday (July 6, at 720.7 million rubles). Tuesday (July 7) saw the highest volumes of euro sales and ruble purchases (12.99 million euros and 1.85 billion rubles, respectively). On Wednesday (July 8), the market recorded peak volumes for both dollar purchases and sales ($76.7 million and $89.1 million), while the highest volume of euro purchases occurred on Friday (July 10, at 16.9 million euros).
According to data from the Central Bank of Armenia, the Central Bank conducted $763.1 million in interventions on the foreign exchange market between January and April 2026, all of which were purchase operations. These interventions contributed to the appreciation of the dram from 381.49 AMD/USD in December 2025 to 373.40 AMD/USD in April 2026.
During the same January–April 2026 period, the intra-bank foreign exchange market saw total purchases of $2.8 billion, 708 million euros, and 138.2 billion rubles, while sales amounted to $3.02 billion, 872 million euros, and 55.5 billion rubles. Consequently, in April 2026, the average purchase rates on the intra-bank market stood at 372.96 AMD/USD, 434.06 AMD/EUR, and 4.84 AMD/RUB, with sale rates at 375.33 AMD/USD, 440.02 AMD/EUR, and 4.94 AMD/RUB. For comparison, the rates in December 2025 were 380.38 AMD/USD, 442.74 AMD/EUR, and 4.83 AMD/RUB for purchases, and 382.62 AMD/USD, 449.26 AMD/EUR, and 4.91 AMD/RUB for sales.
On the interbank foreign exchange market, between January and April 2026, transactions reached $214.7 million in U.S. dollars, 5.3 million euros, and 9.7–10.5 billion rubles. Notably, there were no euro transactions in March or April. During this period, the dram weakened slightly against the ruble to 4.89 AMD/RUB while strengthening against the dollar to 372.99 AMD/USD, compared to the December 2025 levels of 4.88 AMD/RUB and 381.33 AMD/USD, respectively. It is worth noting that ruble transactions on Armenia's interbank foreign exchange market began on March 14, 2022.
On the exchange-based foreign exchange platform, dollar transactions totaling $18.2 million were conducted between January and April 2026. This activity was accompanied by the strengthening of the dram to 371.41 AMD/USD in April, compared to 387.75 AMD/USD in October of the previous year, which was the last time dollar operations were recorded on the exchange.
