ArmInfo. From November 2 to 6, both dollar and ruble transactions on the Armenian interbank currency market declined, while euro transactions have been suspended for a month. Specifically, the decline in dollar transactions slowed from 32% to 7%, while the trend in ruble transactions reversed from a 7% increase to a 34% decline. Nevertheless, the weekly volume of ruble transactions managed to maintain its dominance over dollar transactions, although the gap narrowed from 3.1 times to 2.2 times.
At the same time, in the intrabank foreign exchange market during the reporting week (November 2-6, 2026 compared to October 26-30, 2026), dollar purchases began to decline while sales began to rise. The opposite pattern was observed for euro transactions – purchases increased while sales began to decline. For ruble transactions, the acceleration of the decline in purchases was accompanied by an emerging decline in sales.
As a result, from November 2 to 6 of this year. The dram weakened against both the dollar, from 360 to 360.3 drams per $1, and the euro, from 401.5 to 402.5 drams per $1, while continuing to strengthen against the ruble, from 4.20 to 4.17 drams per $1. A year earlier, on November 6, 2025, the dram exchange rate against the dollar was 383.8 drams per $1, against the euro - 440 drams per $1, and against the ruble - 4.67 drams per $1. Compared to current rates, this indicates an annual revaluation of the dram against the dollar, euro, and ruble by 6%, 9%, and 11%, respectively.
According to the Central Bank of Armenia, from November 2 to 6 of this year, ruble transactions were conducted daily on the interbank currency market in rubles and three times in dollars. Moreover, simultaneous ruble and dollar transactions were conducted on Tuesday, Wednesday, and Friday (November 3, 4, and 6). As a result, the total volume
of dollar transactions amounted to $7 million at an average exchange rate of 360.28 drams/$1 (versus 360.24 drams/$1 the week before), while the weekly volume of ruble transactions amounted to 1.255 billion rubles at an average exchange rate of 4.41 drams/RUB (versus 4.46 drams/RUB the week before). The highest dollar transaction volumes were also recorded on Tuesday and Wednesday (November 3 and 4) – $2.5 million each, while one of these days (Tuesday - November 3) saw the largest volume of ruble transactions – 325 million rubles.
On the intrabank foreign exchange market from November 2 to 6 of this year, Compared to the previous week (October 26-30, 2026), the dollar buying trend reversed from a 12.2% rise to an 8.2% decline, while the sales trend reversed from an 11.4% decline to a 65.5% rise. For euro transactions, the trend reversed.
Buying activity reversed from a 17.5% decline to a 26.4% rise, accompanied by a reversal in the sales trend from a 17% rise to a 3% decline. Ruble transactions saw an acceleration in the decline in buying activity from 2.4% to 11.3%, and a reversal in the sales trend from a 31.2% rise to a 1.5% decline. As a result, during the reporting week, $179.3 million was purchased at an average rate of 359.06 drams/$1, 57.7 million euros at an average rate of 400.69 drams/1EUR, and 8.6 billion rubles at an average rate of 4.32 drams/1RUB, and $293.4 million was sold at an average rate of 361.34 drams/$1, 68.6 million euros at an average rate of 406.76 drams/1EUR, and 4.1 billion rubles at an average rate of 4.45 drams/1RUB. On the intra-bank currency market, the maximum volume of euro purchases was recorded on Monday (November 2 - 21.9 million euros), the next day - on Tuesday - "showed up" The largest dollar and ruble sales volumes were recorded on November 3 (US$83.5 million and US$1.1 billion, respectively). The day after, Thursday, saw the largest dollar purchase volume (US$50.9 million for November 5), and Friday saw the largest euro sales and ruble purchases (US$26.2 million and US$2.6 billion for November 6).
According to the Central Bank of Armenia, the Central Bank intervened in the foreign exchange market for US$1.76 billion from January to August 2026, strengthening the exchange rate from 381.49 drams/US$1 in December to 365.81 drams/US$1 in August. These were only purchases.
On the intrabank foreign exchange market, US$6.4 billion and EUR1.6 billion were purchased from January to August 2026. and 301.02 billion rubles, and $7.1 billion, 1.9 billion euros 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 totaled 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).
