ArmInfo. On the Armenian interbank currency market from August 24 to 28, ruble activity and a significant jump in euro transactions were accompanied by a significant decline in dollar transactions.
Specifically, the decline in dollar transactions accelerated from 3% to 56%, while ruble transactions remained at 24%, and euro transaction volume jumped ninefold. As a result, the weekly volume of ruble transactions was 3-2 times higher than both dollar and euro transactions, and even the weekly volume of euro transactions was 1.4 times higher than dollar transactions.
Concurrently, in the intrabank foreign exchange market during the reporting week (August 24-28, 2026 compared to August 17-21, 2026), the trend of dollar buying and selling reversed downward. For euro transactions, the decline in buying was accompanied by an increase in sales, which was also observed for ruble transactions – an increase in sales amid an emerging decline in buying.
As a result, from August 24 to 28 of this year. The dram continued to strengthen against the dollar, from 364 to 363.3 drams per US dollar, setting itself up for appreciation against both the euro, from 423.5 to 421.8 drams per euro, and the ruble, from 4.19 to 4.09 drams per ruble. A year earlier, on August 28, 2025, the dram exchange rate against the dollar was 382.3 drams per US dollar, against the euro – 443 drams per euro, and against the ruble – 4.74 drams per ruble. Compared to current rates, this indicates an annual appreciation of the dram against the dollar, euro, and ruble by 5%, 5%, and 14%, respectively, against the dollar, euro, and ruble.
According to the Central Bank of Armenia, from August 24 to 28 of this year, four ruble transactions were conducted on the interbank currency market in rubles, three in dollars, and two in euros. Moreover, on Monday and Tuesday (August 24 and 25), dollar, euro, and ruble transactions were carried out simultaneously, and on Friday (August 28), dollar and ruble transactions. The platform was completely empty on Wednesday (August 26). As a result, the weekly volume of dollar transactions amounted to $7.5 million at an average rate of 364.55 drams/$1 (against 365.37 drams/$1 a week earlier), the weekly volume of ruble transactions amounted to 1.770 billion rubles at an average rate of 4.31 drams/1RUB (against 4.32 drams/1RUB a week earlier), and the weekly volume of euro transactions amounted to 9 million euros at an average rate of 424.82 drams/1EUR (against 426 drams/1 EUR a week earlier). The maximum volume of dollar and euro transactions On Monday (August 24), $4 million and €5 million were traded, while the largest volume of ruble transactions occurred on Tuesday (August 25) – 595 million rubles.
On the intrabank foreign exchange market from August 24 to 28 of this year, Compared to the previous week (17-21.08.26), the trend of buying and selling dollars reversed from a significant growth of 2-2.2 times towards a 49.8-50.1% decline; in euro transactions, sales went from an 8% decline to a 3.4% growth, accompanied by a reversal of the buying trend from 67.3% growth towards a 31% decline, which was also observed in ruble transactions - sales went from a 4% decline to a 40.1% growth with a reversal of the buying trend from 10.6% growth to 9.4% decline. As a result, during the reporting week, $168.6 million was purchased at an average rate of 363.44 drams/$1, 51.2 million euros at an average rate of 421.34 drams/1EUR, and 9.1 billion rubles. at an average rate of 4.23 dr/1RUB, and $193.9 million were sold at an average rate of 365.44 dr/$1, 49.2 million euros at an average rate of 428.29 dr/1EUR, and 5.04 billion rubles at an average rate of 4.36 dr/1RUB. On Monday, the intrabank foreign exchange market recorded its highest dollar sales and euro and ruble purchases (August 24 - $46.7 million, EUR 17.1 million, and RUB 2.1 billion). Tuesday saw the highest euro and ruble sales (August 25 - EUR 11.5 million and RUB 1.45 billion), while the highest dollar purchases occurred on Thursday (August 27 - $41.5 million).
According to the Central Bank of Armenia, in the first half of 2026, the Central Bank intervened in the foreign exchange market for $1.161 billion, strengthening the exchange rate from 381.49 drams/$1 in December to 368.20 drams/$1 in June, and these were only purchase operations.
In the intrabank foreign exchange market in the first half of 2026 $4.5 billion, €1.1 billion, and 224.4 billion rubles were purchased, and $5.05 billion were sold.
€1.4 billion and 83.7 billion rubles. This resulted in a buying rate of 367.17 drams/$1, 421.72 drams/€1, and 4.90 drams/€1 on the intrabank foreign exchange market in June, and a selling rate of 369.26 drams/$1, 427.83 drams/€1, and 5.07 drams/€1, compared to the December 2025 buying rates of 380.38 drams/$1, 442.74 drams/€1, and 4.83 drams/€1 for buying, and 382.62 drams/$1, 449.26 drams/€1, and 4.91 drams/€1 for selling.
On the interbank foreign exchange market in the first half of 2026, dollar transactions totaled $334.3 million, euro transactions totaled 5.3 million, and ruble transactions totaled -21.4-22.2 billion rubles. Moreover, no euro transactions were made in March-June. On the interbank currency market during this period, the dram weakened against the ruble to 5.01 drams/1 ruble and strengthened against the dollar to 368.34 drams/1 dollar, compared to 4.88 drams/1 ruble and 381.33 drams/1 dollar in December 2025. As a reminder, ruble transactions on the Armenian interbank currency market began on March 14, 2022.
On the currency exchange platform, dollar transactions worth $26.4 million were conducted in the first half of 2026, accompanied by a strengthening of the dram to 368.38 drams/1 dollar in June from 387.75 drams/1 dollar in October, when the exchange last saw the exchange rate of a year earlier dollar transactions.
