ArmInfo.During the week of June 29 to July 3, 2026, trading volumes for both the US dollar and the Russian ruble declined on Armenia's interbank foreign exchange market.
Transactions in the Euro have remained inactive for over four months. Specifically, The trading trend for the dollar reversed sharply, moving from a 78.6% increase the previous week to an 81.5% decline. The decline in ruble transactions slowed significantly, narrowing from 22.2% to 1.3%. This allowed the weekly volume of ruble transactions to reclaim its over dollar transactions, with a three-fold difference in volumem, while the previous week was characterized by dollar-dominated trading with a two-fold lead over the ruble.
Meanwhile, in the interbank foreign exchange market, the buying and selling trend in dollars and euros remained in decline during the reporting week (June 29-July 3, 2026, compared to June 22-26, 2026). Ruble-denominated transactions saw an accelerated decline in purchases, while the trend for sales shifted into growth.
As a result, from June 29 to July 3, the dram appreciated against the dollar, from AMD 367.8 to AMD 366.5/USD, while continuing to strengthen against both the euro, from AMD 420.3 to AMD 420 /EUR, and the ruble, from AMD 4.40 to AMD 4.35/RUB. A year earlier, on July 3, 2025, the dram exchange rate against the dollar was AMD 383.8/USD, against the euro – AMD 450.5/EUR, and against the ruble – AMD 4.83/RUB. Compared to current rates, this indicates an annual revaluation of the dram against the dollar, euro, and ruble of 4%, 7%, and 10%, respectively.
According to the Central Bank of the Republic of Armenia, from June 29 to July, 2026, ruble transactions were conducted daily in the interbank foreign exchange market, and dollar transactions were conducted three times daily, with both transactions occurring simultaneously on Monday and Thursday-Friday (June 29, July 2 and 3). As a result, the total weekly dollar transaction volume amounted to $6 million at an average exchange rate of AMD 367.85/USD (compared to AMD 368.10/USD the week before), while the weekly ruble transaction volume amounted to 1.346 billion rubles at an average rate of AMD 4.70/RUB (compared to AMD 4.90/RUB the previous week). The peak volume of ruble transactions occurred on Monday (July 2) – 585 million rubles, and the following day (July 3) saw the largest volume of dollar transactions – $3 million.
In the intrabank foreign exchange market from June 29 to July 3, 2026, compared to the previous week (22- 26.06.26), the decline in the purchase and sale of dollars slowed from 14.5-11.7% to 0.04-1.7%. The trend in the purchase and sale of euros also lingered in decline - in terms of purchases, with a slowdown in the rate from 16.1% to 13.4% and in sales, with an acceleration in the rate from 13.4% to 18.5%. In ruble transactions, the acceleration of the decline in purchases from 5.4% to 21.3% was accompanied by a transition of the sales trend from a 6.6% decline to a 66.2% growth. As a result, during the reporting week, $194.2 million were purchased at an average rate of AMD 366.52/USD, 51 million euros at an average rate of AMD 416.38 / EUR, and 7.6 billion rubles at an average rate of AMD 4.54/RUB. Additionally, $244.3 million were sold at an average rate of AMD 369.18/ USD, 53.6 million euros at an average rate of AMD 422.95/EUR, and 4.9 billion rubles at an average rate of AMD 4.77/RUB. In the interbank foreign exchange market, the maximum volumes of euro purchases and ruble sales were recorded on Monday (June 29 - 14.5 million euros and 1.4 billion rubles). The largest volumes of dollar purchases and euro sales took place on Tuesday (June 30 - $47.1 million and 13.2 million euros). On Thursday, the maximum volumes of dollar sales and ruble purchases were recorded (July 2 - $74.04 million and 1.8 billion rubles).
According to the Central Bank of Armenia, from January to April 2026, the Central Bank intervened in the foreign exchange market totaling $763.1 million, strengthening the exchange rate from AMD 381.49/ USD in December to AMD 373.40 /USD in April. In the interbank foreign exchange market from January to April 2026, $2.8 billion, EUR 708 million, and RUB 138.2 billion were purchased, while $3.02 billion, EUR 872 million, and RUB 55.5 billion were sold. This resulted in a buying rate of AMD 372.96USD, AMD 434.06 /EUR, and AMD 4.84/RUB, and a selling rate of AMD 375.33/USD, AMD 440.02/EUR, and AMD 4.94 /RUB, compared to December 2025 rates of AMD 380.38/USD, AMD 442.74/EUR, and AMD 4.83/RUB for buying, and AMD 382.62 /USD, AMD 449.26 /EUR, and AMD 4.91/RUB for selling.
USD transactions totaling $214.7 million, EUR transactions totaling 5.3 million, and RUB transactions totaling 9.7-10.5 billion were concluded in the interbank currency market from January to April 2026. Moreover, no euro transactions were concluded in March or April. During this period, the dram weakened slightly against the ruble to AMD 4.89 /RUB and strengthened against the dollar to AMD 372.99/USD, up from AMD 4.88/RUB and AMD 381.33/USD in December 2025, respectively.
Recall, transactions involving the Russian ruble on Armenia's interbank foreign exchange market officially commenced on March 14, 2022. On the exchange's currency platform, trading for the period of January through April 2026 reached a total of $18.2 million in dollar-denominated transactions. During this period, the Armenian Dram strengthened, moving from an exchange rate of 387.75 AMD/$1 in October 2025 to 371.41 AMD/$1 by April 2026. This period marks the resumption of dollar operations on the exchange platform, following the last recorded transactions one year prior.
