ArmInfo. From September 28 to October 2, both dollar and ruble transactions were active on the Armenian Interbank Currency Exchange. However, euro transactions have been dormant for over a month. Specifically, dollar transactions accelerated from 65% to 79%, while ruble transactions increased from a 27.4% decline to an 18.3% increase. As a result, the weekly volume of dollar transactions regained its dominance over ruble transactions, but the gap was small, compared to the previous week when ruble transactions still dominated, with the gap narrowing from 3.3 times to 1.5 times.
Concurrently, in the intrabank foreign exchange market during the reporting week (September 28-October 2, 2026 compared to September 22-25, 2026), the trend of dollar and ruble purchases and sales reversed its downward trend, while for euro transactions, the upward trend in purchases was accompanied by a noticeable acceleration in sales growth.
As a result, from September 28 to October 2 of this year, The dram "froze" against the dollar at 362.3 drams/$1, while continuing to strengthen against the euro - from 412.8 to 408 drams/€1, and set for devaluation against the ruble - from 4.09 to 4.13 drams/€1. A year earlier, on October 2, 2025, the dram exchange rate against the dollar was 382.5 drams/$1, against the euro - 449 drams/€1, and against the ruble - 4.69 drams/€1. Compared to current rates, this indicates an annual revaluation of the dram against the dollar, euro, and ruble by 5%, 9%, and 12%, respectively.
According to the Central Bank of Armenia, both dollar and ruble transactions were conducted daily on the interbank currency market from September 28 to October 2 of this year. As a result, the weekly dollar transaction volume amounted to $25 million at an average exchange rate of 362.84 drams/$1 (versus 363.50 drams/$1 the week before), while the weekly ruble transaction volume amounted to 2.040 billion rubles at an average exchange rate of 4.31 drams/RUB (versus 4.30 drams/RUB the week before). The highest equal dollar transaction volumes were seen on Wednesday and Friday (September 30 and October 2) – $8 million each, while Friday (October 2) also saw the maximum ruble transaction volume – 600 million rubles.
On the intrabank foreign exchange market from September 28 to October 2 of this year, Compared to the previous week (22-25.09.26), the dollar buying and selling trend went from an 18.5-19.1% decline to a 63-8.2% growth, which was also noted in ruble transactions, the buying and selling trend of which reversed from a 24-23% decline towards 7.1-20.5% growth, and in euro transactions, the buying trend went from a 50.8% decline to a 79% growth, accompanied by an acceleration in sales growth from 3.1% to 37%. As a result, during the reporting week, $265.2 million were purchased at an average rate of 361.94 drams / $ 1, 75.8 million euros at an average rate of 409.18 drams / 1 EUR, and 9.3 billion rubles. at an average rate of 4.23 dr/1RUB, and $221.1 million were sold at an average rate of 363.92 dr/$1, 91.3 million euros at an average rate of 414.92 dr/1EUR, and 3.3 billion rubles at an average rate of 4.34 dr/1RUB. On the intra-bank currency market, the maximum volume of euro purchases was recorded on Monday (September 28 - 25.4 million euros), the next day - on Tuesday, The largest volumes of dollar and ruble sales were recorded on September 29 (62.3 million USD and 868.2 million RUB, respectively), followed by the maximum ruble purchase volume on Wednesday (2.01 billion RUB on September 30), the largest euro sales volume on Thursday (30.2 million EUR on October 1), and the maximum dollar purchase volume on Friday (75.3 million USD on October 2).
According to the Central Bank of Armenia, from January to July 2026, the Central Bank intervened in the foreign exchange market for $1.510 billion, strengthening the exchange rate from 381.49 drams/$1 in December to 367.74 drams/$1 in July, and these were only purchase operations.
On the intrabank foreign exchange market, from January to July 2026, $5.5 billion, 1.4 billion euros and 266.6 billion rubles, and $6.1 billion, 1.7 billion euros and 102.02 billion rubles were sold. This resulted in a purchase rate of 365.49 drams/$1, 415.46 drams/€1, and 4.56 drams/€1 on the intrabank foreign exchange market in July, while the selling rate was 367.94 drams/$1, 421.89 drams/€1, and 4.75 drams/€1, compared to the December 2025 rates of 380.38 drams/$1, 442.74 drams/€1, and 4.83 drams/€1 for purchases, and 382.62 drams/$1, 449.26 drams/€1, and 4.91 drams/€1 for sale.
On the interbank foreign exchange market from January to July 2026, dollar transactions totaled $369.7 million, euro transactions totaled €10.3 million, and Ruble transactions totaled 26.97 billion rubles. Moreover, no euro transactions were made in March-June. During this period, the dram strengthened against the dollar to 367.44 drams/$1 and against the ruble to 4.70 drams/$1, respectively, on the interbank currency market, up from 381.33 drams/$1 and 4.88 drams/$1 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 totaling $28.5 million were conducted from January-July 2026, accompanied by a strengthening of the dram to 367.40 drams/$1 in July, up from 387.75 drams/$1 in October, when the exchange last "displayed" [the phrase "dram" appears to be a mistranslation/unclear phrase ... dollar transactions.
