ArmInfo. Dollar transactions increased significantly and ruble transactions showed growth in Armenia's interbank foreign exchange market from June 1 to 5, 2026. Euro transactions have not been carried out for 3.5 months. Specifically, the trend for dollar transactions reversed from a 67% contraction to a substantial, nearly 20-fold increase. A similar turnaround was observed in ruble transactions, which rebounded from a 68.3% decline to register a 25.5% growth. This allowed the weekly volume of dollar transactions to regain its dominance over ruble trades, albeit by a narrow margin; just a week prior, ruble transactions still dominated, outstripping dollar volumes by a factor of 15.3.
During the reporting week (June 1-5, 2026 compared to May 25-29, 2026) , in the intrabank foreign exchange market the decline in dollar purchases slowed down while the growth of sales decelerated. Euro buying and selling volumes rebounded from a contraction to post substantial growth. A similar pattern emerged in ruble transactions, where the buying and selling trend reversed from a decline to an increase, driven most notably by a sharp rise in sales.
As a result, between June 1 and June 5, the Armenian dram (AMD) strengthened against the US dollar, moving from 369.3 to 368.5 AMD/$1. It also strengthened against the ruble, moving from 5.04 to 4.89 AMD/1RUB, while continuing to weaken against the euro, slipping from 429.5 to 430 AMD/1EUR. Exactly a year earlier, on June 5, 2025, the exchange rate of the dram stood at 383.5 AMD/$1, 437.5 AMD/1EUR, and 4.80 AMD/1RUB. Compared to current rates, this indicates a year-on-year revaluation of the dram against the dollar and the euro by 4% and 2%, respectively, and a 2% devaluation against the ruble.
According to data from the Central Bank of Armenia, ruble transactions were conducted daily on the interbank FX market from June 1 to June 5, while dollar transactions took place four times, with simultaneous dollar and ruble trading occurring from Tuesday to Friday (June 2-5). Consequently, the total weekly volume of dollar transactions reached $19.5 million at an average exchange rate of 368.65 AMD/$1 (compared to 368.70 AMD/$1 a week earlier). The weekly volume of ruble transactions totaled 1.375 billion rubles at an average exchange rate of 5.06 AMD/1RUB (compared to 5.14 AMD/1RUB a week earlier). The peak volume for dollar transactions was recorded on Wednesday (June 3) at $6.5 million, while the highest volume for ruble trades was registered on Tuesday (June 2) at 742 million rubles.
On the intrabank foreign exchange market from June 1 to 5 of this year. Compared to the previous week (25-29.05.26), the decline in dollar purchases slowed from 25.1% to 0.6%, while sales growth slowed from 11.2% to 4.8%. The euro purchase-sale trend went from a 4.8-18.3% decline to a significant 75.3-48.8% growth. This was also observed in ruble transactions, where the purchase-sale trend reversed from an 18.1- 9.8% decline to a 12.8-83.3% growth. As a result, $167.4 million was purchased during the reporting week at an average rate of 367.30 drams/$1, 62.6 million euros at an average rate of 425.41 drams/1EUR, and over 12.1 billion rubles. at an average rate of 4.99 dr/1RUB, and $252.4 million were sold at an average rate of 369.62 dr/$1, 65.8 million euros at an average rate of 432.21 dr/1EUR, and more than 5.5 billion rubles at an average rate of 5.12 dr/1RUB. Monday was the most active day of the reporting week, with the highest volumes of dollar purchases and ruble buying (June 1 - $47.5-64.8 million, 3.3 billion rubles), a day later, on Wednesday, the highest volume of ruble sales was recorded (June 3 - over 1.7 billion rubles), and the maximum volumes of euro buying and selling occurred on Friday (June 5 - 25.3-17.9 million euros).
According to the Central Bank of Armenia, in Q1 2026, the Central Bank intervened in the foreign exchange market totaling $603.1 million, strengthening the exchange rate from 381.49 drams/$1 in December to 378.63 drams/$1 in March. In the intrabank foreign exchange market in the first quarter of 2026, $1.97 billion, 479.2 million euros, and 95.2 billion rubles were purchased, while $2.23 billion, 642 million euros, and 41.7 billion rubles were sold. This resulted in a buying rate of 376.10 drams/$1, 433.44 drams/?1, and 4.67 drams/?1 ruble on the intrabank foreign exchange market in March, while the selling rate was 378.49 drams/$1, 439.42 drams/?1, and 4.74 drams/?1 ruble, compared to the December 2025 buying rates of 380.38 drams/$1, 442.74 drams/?1, and 4.83 drams/?1, and selling rates of 382.62 drams/$1, 449.26 drams/?1, and 4.91 drams/?1 ruble.
In the interbank currency market in Q1 2026, dollar transactions totaled $107.2 million, euro transactions totaled 5.3 million, and ruble transactions totaled 7.2 billion. Moreover, no euro transactions were executed in March. During this period, the dram strengthened against the ruble to 4.65 drams/ruble and against the dollar to 378.18 drams/$1 on the interbank currency market, up from 4.88 drams/ruble and 381.33 drams/$1 in December 2025, respectively.
Recall, ruble transactions on the Armenian interbank currency market began on March 14, 2022. On the currency exchange platform, dollar transactions totaling $17.3 million were executed in the first quarter of 2026, accompanied by a strengthening of the dram to 378.19 drams/$1 in March, up from 387.75 drams/$1 in October, when dollar transactions last appeared on the exchange a year earlier.
