ArmInfo. From October 19 to 23, dollar transactions on the Armenian interbank currency market maintained growth, while ruble transactions began to decline, while euro transactions have not been conducted for the second week. In particular, the growth of dollar transactions slowed from 10 times to 2.2 times, and the trend of ruble transactions reversed from 36.1% growth to a 14.5% decline. Nevertheless, the weekly volume of ruble transactions remained higher than dollar transactions, but the gap narrowed from 5 times to 2 times.
At the same time, in the intrabank foreign exchange market during the reporting week (October 19-23, 2026 compared to October 12-16, 2026), dollar purchases lingered in decline and sales began to decline. Euro transactions showed a decline in purchases while the decline in sales slowed, and in ruble transactions, an acceleration in purchase growth was accompanied by a resumption of sales growth.
As a result, from October 19 to 23 of this year. The dram is set to depreciate against the dollar, from 360.3 to 360.5 drams/$1, while continuing to weaken against the ruble, from 4.10 to 4.28 drams/$1, and further strengthen against the euro, from 405 to 404 drams/$1. A year earlier, on October 23, 2025, the dram exchange rate against the dollar was 383.3 drams/$1, against the euro – 444 drams/$1, and against the ruble – 4.66 drams/$1. Compared to current rates, this indicates an annual revaluation of the dram against the dollar, euro, and ruble by 6%, 9%, and 8%, respectively.
According to the Central Bank of Armenia, four ruble transactions and three dollar transactions were conducted on the interbank currency market from October 19 to 23 of this year. Moreover, both ruble and dollar transactions were executed on Wednesday and Friday (October 21 and 23). As a result, the total volume of dollar transactions amounted to $11 million at an average exchange rate of 361.28 drams/$1 (versus 361.95 drams/$1 the week before), and the weekly volume of ruble transactions amounted to 1.775 billion rubles at an average exchange rate of 4.39 drams/RUB (versus 4.31 drams/RUB the week before). The maximum volume of dollar transactions "appeared" on Friday (October 23) - $5 million, and the largest volume of ruble transactions occurred on Wednesday (October 21) - 625 million rubles.
On the intrabank foreign exchange market from October 19 to 23 of this year. Compared to the previous week (12-16.10.26), the decline in dollar purchases accelerated from 3.2% to 19.4% with a reversal of the sales trend from 0.8% growth to 0.8% decline; for euro transactions, the reversal of the purchase trend from 18% growth to 3% decline was accompanied by a slowdown in the decline in sales from 28.5% to 1.2%, and for ruble transactions, an acceleration in purchase growth was noted from 0.8% to 3.1% with a sales trend going from a 36.1% decline to 6.3% growth. As a result, during the reporting week, $174.1 million was purchased at an average rate of 360.12 drams/$1, 55.3 million euros at an average rate of 402.64 drams/1EUR, and 9.9 billion rubles. At an average rate of 4.29 drams/1 ruble, $200.1 million was sold at an average rate of 362.53 drams/1 dollar, 60.5 million euros at an average rate of 408.87 drams/1 euro, and 3.2 billion rubles at an average rate of 4.41 drams/1 ruble. The intrabank currency market recorded its highest dollar and euro purchase volumes on Monday (October 19).
- $45.4 million and 14.5 million euros. The following day, Tuesday, saw the highest euro sales and ruble purchases and sales (October 20 - 15.7 million euros, 2.5 billion, and 944.5 million rubles). Then, Wednesday saw the highest dollar sales volume (October 21 - $47.6 million). It is noteworthy that similar dollar and euro sales volumes were recorded on Tuesday and Wednesday (October 20 - $47.5 million, October 21
- €15.6 million).
According to the Central Bank of Armenia, from January to August 2026, the Central Bank intervened in the foreign exchange market totaling $1.760 billion, strengthening the exchange rate from 381.49 drams/$1 in December to 365.81 drams/$1 in August. These were only purchases.
On the intrabank foreign exchange market from January to August 2026, $6.4 billion, €1.6 billion, and 301.02 billion rubles were purchased, while $7.1 billion, €1.9 billion, and 118.4 billion rubles were sold. This resulted in a buying rate of 364.27 drams/$1, 419.70 drams/€1, and 4.30 drams/₽1 on the intrabank foreign exchange market in August, while the selling rate was 366.31 drams/$1, 426.27 drams/€1, and 4.42 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 from January to August 2026, dollar transactions totaled $413.2 million, euro transactions totaled 26.3 million, and Ruble transactions amounted to 33.54 billion rubles. Moreover, no euro transactions were made in March-June. During this period, the dram strengthened on the interbank currency market against the dollar to 365.71 drams/$1, against the ruble to 4.38 drams/ruble, and against the euro to 423.90 drams/EUR. Compared to December 2025 figures, the corresponding figures were 381.33 drams/$1, 4.88 drams/ruble, and 446.78 drams/EUR. As a reminder, ruble transactions on the Armenian Interbank Currency Exchange (AIX) began on March 14, 2022.
From January to August 2026, dollar transactions worth $29.3 million were conducted on the exchange's currency platform, accompanied by the dram's strengthening to 364.34 drams/$1 in August, up from 381.25 drams/$1 in December 2025. In fact, in the first eight months of 2026, the volume of dollar transactions on the exchange's currency platform was almost the same as for the entire 2025 ($29.4 million).
