ArmInfo. In the Armenian interbank foreign exchange market, the week of March 23-27, 2026, saw a decrease in dollar transactions along with a slowdown in ruble transactions.
Euro transactions have not been conducted for a month. Specifically, the trend in dollar transactions shifted from 76% growth to a 3.2% decline, while ruble transactions went from growing from 3.4 times to only 32.3%. This resulted in dollar transactions still dominating over ruble transactions for the week, but with the gap narrowing from 1.6 times to 1.2 times.
In the interbank foreign exchange market during the reporting week (March 23-27, 2026 compared to March 16-20, 2026), the trend of buying dollar reversed to the downside while the decline in sales slowed. In euro transactions, the decline in buying accelerated while sales growth slowed. In ruble transactions, the upward trend in buying was accompanied by a reversal in the sales trend from significant growth to a decline. As a result, from March 23 to 27 of this year, the dram began to weaken both against the dollar - from AMD 376.3 to AMD 376.5/ $1, and against the ruble - from AMD 4.48 to AMD 4.61/1RUB, while continuing to weaken against the euro - from AMD 435.5 to AMD 436.5/1EUR A year earlier, on March 27, 2025, the dram exchange rate against the dollar was AMD 391/$1, against the euro - AMD 422.8 drams/1EUR, and against the ruble - AMD 4.63 drams/! RUB. Compared to current rates, this indicates an annual revaluation of the dram against the dollar and ruble of 4% and 0.3%, respectively, and a devaluation against the euro of 3%.
According to the Central Bank of the Republic of Armenia, both dollar and ruble transactions were conducted daily on the interbank currency market from March 23 to 27 of this year. As a result, the total weekly volume of dollar transactions amounted to $15 million at an average rate of AMD 378.01/$1 (compared to AMD 378.30/$1 the week before), while the total volume of ruble transactions amounted to 1.045 billion rubles at an average rate of AMD 4.62/1RUB (compared to AMD 4.56 /1RUB the week before). The maximum volume of dollar transactions occurred on Monday (March 23) at $8.5 million, while the largest volume of ruble transactions occurred on Wednesday (March 25) at 400 million rubles.
In the interbank foreign exchange market from March 23 to 27, 2026, compared to the previous week (March 16-20), the dollar buying trend reversed from a 38.5% increase to a 19% decline, while sales decline slowed from 16% to 10%. For euro transactions, the decline in buying accelerated from 13.4% to 18%, while sales growth slowed from 16% to 3%. For ruble transactions, the buying trend shifted from a 9.2% decline to a 2% increase, accompanied by a reversal in the sales trend - from a significant 2.2-fold increase to a 56.7% decline. As a result, during the reporting week, $155.9 million was purchased at an average rate of AMD 376.07 /$1, 30.9 million euros at an average rate of AMD 433.16/1EUR, and 6.9 billion rubles at an average rate of AMD 4.58/1RUB. Additionally, $146.3 million was sold at an average rate of AMD 378.28/$1, 64.3 million euros at an average rate of AMD 439.30 /1EUR, and 3.2 billion rubles at an average rate of AMD 4.66 /1RUB. During the reporting week, the maximum volume of euro sales occurred on Monday (March 23 - 19.02 million euros), the largest volumes of dollar sales and euro purchases were recorded on Tuesday (March 24 - $35.3 million and 8.7 million euros). On Thursday, the maximum volumes of dollar purchases and ruble purchases and sales were recorded (March 26 - $36.1 million and 1.5-1.02 billion rubles).
In the intra-bank foreign exchange market for the whole of 2025, $7.6 billion, 2.03 billion euros and 676.7 billion rubles were purchased, and $10.6 billion, 3.2 billion euros and 177.4 billion rubles were sold. This formed the purchase rate in December at the level of AMD 380.38/$1, AMD 442.74/1EUR and AMD 4.83/1RUB, and the selling rate at AMD 382.62/$1, AMD 449.26/1EUR and AMD 4.91/1 RUB, against the December 2024 rates of AMD 394.84 /$1, AMD 413.75/1 EUR, AMD 3.84/1RUBe - for buying, and AMD 398.16/$1, AMD 420.09/1EUR, and AMD 3.97 /1 RUB - for selling.
After eight years of "silence," the foreign exchange platform resumed operations in June 2024. Over the five-month period (June-October), dollar transactions totaling $14.7 million were conducted, with the dram strengthening from AMD 388.9 /$1 in June to AMD 387.75 $1 in October. In November- December 2024, the foreign exchange platform was idle. Then, in 2025, over the 12 months of 2025, dollar transactions totaling $29,4 million were conducted on the foreign exchange platform, with the dram strengthening from AMD 398.75/$1 in January to AMD 381.25/$1 in July. The currency exchange market was active during the reporting year, reaching its peak monthly volume in November - $8,8 million.
Recall, ruble transactions in the Armenian interbank foreign market started on March 14, 2022. From that point until the end of the year, transactions totaling 8.7 billion rubles were conducted, with an additional 17.5 billion rubles for the entire 2023. This was accompanied by a weakening of the dram against the ruble in the interbank foreign exchange market from March to December 2022, from AMD 4.86 to AMD 5.8/1RUB. However, the dram subsequently strengthened against the ruble to AMD 4.47/1RUB by the end of 2023 and further to AMD 3.84/1RUB by the end of 2024. However, since 2025, the dram has once again begun to weaken against the ruble. By the mid-year mark, it had reverted to the initial exchange rate of AMD 4.88 /1RUB in the interbank foreign exchange market.
Recall, ruble transactions in the Armenian interbank foreign exchange market started on March 14, 2022. From that point until the end of the year, transactions totaling 8.7 billion rubles were conducted, with an additional 17.5 billion rubles for the entire 2023. This was accompanied by a weakening of the dram against the ruble in the interbank foreign exchange market from March to December 2022, from AMD 4.86 to AMD 5.8/1RUB. However, the dram subsequently strengthened against the ruble to AMD 4.47/1RUB by the end of 2023 and further to AMD 3.84/1RUB by the end of 2024. However, since 2025, the dram has once again begun to weaken against the ruble. By the mid-year mark, it had reverted to the initial exchange rate of AMD 4.86 /1RUB in the interbank foreign exchange market.
